Argosy Minerals (ASX: AGY) has signed a Spot Sales Contract with a Korean chemical company for the sale of 20 metric tonnes of battery quality lithium carbonate product produced from the company’s operations at the Rincon Lithium Project in Argentina.
The Spot Sales Contract agreed fixed price was referenced from Fastmarkets 99.5% Li2CO3 min, battery grade, spot prices CIF China, Japan and Korea – an industry standard benchmark index reference, with payment terms being an irrevocable letter of credit at sight and payment immediately on receipt of original shipping documents.
The company is now working through product export logistics, with the cargo expected to commence transport upon completion of the freight and export protocols.
“We are pleased to achieve the sale of our battery quality lithium carbonate product, with the aim to realise a premium sales price given current lithium market conditions,” Managing Director, Jerko Zuvela, said.
“We received strong interest for our high quality Li2CO3 product and we’ll review our sales strategy for our current available product. This milestone further confirms Argosy’s ambitions and near-term growth phase to fully develop our Rincon Lithium Project.”
