60 Tonnes of >99.5% Pure Lithium Carbonate Sold by Argosy Minerals
Argosy Minerals has executed a spot sales contract for 60 tonnes of high-purity lithium carbonate from its Rincon project, marking a significant step in its lithium market engagement.
- Spot sales contract signed for 60 metric tonnes of >99.5% pure lithium carbonate
- Buyer is Hong Kong CB Supply Chain Co., Limited
- Pricing fixed referencing SMM battery grade lithium carbonate price
- Delivery terms FOB Buenos Aires with staged payment terms
- Argosy highlights strong project fundamentals and market positioning
Argosy Minerals Advances Commercial Sales
Argosy Minerals Limited (ASX – AGY) has taken a concrete step toward commercialising its lithium assets with the execution of a spot sales contract for 60 metric tonnes of battery quality lithium carbonate. The product, boasting a purity greater than 99.5%, originates from the company’s Rincon Lithium Project located in Argentina’s prolific Lithium Triangle.
The buyer, Hong Kong CB Supply Chain Co., Limited, will receive the lithium carbonate under terms that fix the sales price referencing the SMM battery grade lithium carbonate price, a key industry benchmark. Delivery is set FOB Buenos Aires port, with payment structured as a 30% deposit upfront and the remaining 70% due prior to shipment loading.
Strategic Significance Amid Market Dynamics
Argosy’s Managing Director, Jerko Zuvela, expressed satisfaction with the strong market interest in their product, noting the company’s position among a select group of producers capable of delivering battery-grade lithium carbonate. This milestone underscores Argosy’s progress in navigating the complexities of lithium production and export, a challenge that has hindered many peers.
The Rincon Lithium Project’s location within the Lithium Triangle; home to some of the world’s largest lithium reserves; combined with Argosy’s fast-track development strategy, positions the company to benefit from the ongoing resurgence in electric vehicle demand and lithium-ion battery growth.
Looking Ahead
While the volume of this initial spot sale is modest, it represents a critical commercial validation of Argosy’s product quality and operational readiness. The company confirmed there are no material conditions pending for the contract’s execution, signaling confidence in its supply chain and production capabilities.
Investors will be watching closely for further sales contracts and updates on production ramp-up, as well as how pricing trends evolve in the lithium carbonate market, which remains sensitive to global EV sector dynamics.
Bottom Line?
Argosy’s first spot sale signals growing momentum but leaves questions on scale and sustainability of lithium supply.
Questions in the middle?
- Will Argosy secure larger or longer-term contracts following this spot sale?
- How quickly can Rincon Lithium Project scale production to meet growing demand?
- What impact will lithium price fluctuations have on Argosy’s future sales and margins?
