The plant, which cost US$365,000, was purchased in Salta, Argentina and has historically produced 99%-99.5% pure lithium carbonate, according to the company.

Originally constructed in 2013 with a price tag of US$3.6 million, Pursuit will gain all the plant, all relevant equipment and the intellectual property associated with the plant.

"With the acquisition of the pilot plant, Pursuit Minerals will now advance toward production of lithium carbonate targeting 100 tonnes per annum of continuous production," said Aaron Revelle, chief executive and managing director at Pursuit.

To aid in its drive towards production, Pursuit has brought on Worley, a chemical engineering firm, to ensure the chemical process pathway is scalable and efficient.

"In addition, Worley's engagement includes eventual expansion and relocation of the pilot plant to the site at Rio Grande," said Revelle. "Completion of the acquisition of the plant will allow Pursuit to begin immediately advancing towards becoming a small-scale lithium producer, fast-tracking production."

Worley will also construct approximately 4.7 hectares of evaporation ponds at Rio Grande Sur.