ASX-listed Argosy Minerals has signed a non-binding heads of agreement (HoA) with Mitsubishi Corporation for a possible 2 000 t/y lithium carbonate offtake contract from the Rincon project, in Argentina.
The offtake agreement is expected to run over an initial three-year term, and would contain a further two-year extension option. The purchase price for the lithium carbonate will be market price, subject to agreement prior to the first delivery.