Buenos Aires (Argentina): According to reports, Argosy Minerals, an Australian company, has initiated the production of Lithium Carbonate at its Rincon Lithium Project in Argentina. Currently, the project is producing 5.1 tonnes of battery-quality products. Argosy Minerals aims to complete the overall system ramp-up phase works and achieve steady-state uninterrupted production operations by the end of Q2- 2023.

The company has nearly completed the commissioning phase works and is currently conducting scaling trials at the 2KTPA operations facility. Argosy Minerals holds a 77.5% allocation in the Rincon Lithium Project in Santa Province, Argentina, and a 100% allocation in the Tonopah Lithium Project in Nevada, USA. The company's primary focus is on the Rincon Lithium Project, located within the renowned "Lithium Triangle," which is home to the world's largest Lithium resources.

Argosy Minerals is committed to building a sustainable Lithium production company with forecasted growth in the Lithium-ion battery sector. Lithium holds crucial value as the metal is used for rechargeable batteries in electric vehicles. Worldwide demand for Lithium is anticipated to grow rapidly, and strong investments are required to boost the region's Lithium production to keep up with the pace. The Lithium Triangle, including Argentina, Chile, and Bolivia in Latin America, accounts for more than half of the world's Lithium.

Lithium resources are a driving economic force for South America, but producers might face widespread difficulties, including infrastructure demands and environmental regulations. To support sustainable development, the Wilson Center's Latin America program, in collaboration with the Inter-American Development Bank (IDB), launched the Lithium Triangle Initiative (LTI) to engage with the private sector and develop best practices for this crucial sector.