The company said it remains on schedule and budget to achieve first commercial production of over 99.5% battery quality lithium carbonate product from mid-2022.

The major works comprise the construction of the process plant, equipment and associated installations, earthworks and site construction, including additional camp development and associated site infrastructure. 25% of the process plant has been completed, including plant equipment acquisition and plant warehouse works, while 2% plant commissioning works have been completed, comprising raw materials acquisition and team development works. In addition, Argosy is expanding the brine system, including pumping station and plant settling ponds, which is now 65% complete.

The company added that 74% of earthworks and land movements are now complete, as are 31% of site works such as camp/accommodation, laboratory, office and other works. 13% of utilities and associated services, comprising vapour system, communications system and ancillary services works, have also been completed.

Jerko Zuvela, managing director at Argosy, said: "The company's Puna operations team have continued their strong progress with construction and development works, toward commencing 2,000t/y lithium carbonate production operations at our Rincon lithium project.

"We are excited as we continue our works to transform Argosy into a battery quality lithium carbonate producer and cashflow generator, and to further progress the 10,000t/y project development expansion. We look forward to a significant near-term growth phase from increasing development activity at the Rincon lithium project."

The company is continuing discussions with several strategic groups on various product offtake propositions and related strategic investment options for the 10,000t/y capex funding solution.

In January, Argosy joined the European Raw Materials Alliance (ERMA) as a primary partner.