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Pursuit Minerals Update | 2024 Hits & 2025 Outlook4 February 2025 - 1:02 pm
Pursuit Minerals Limited (ASX: PUR) is advancing a large-scale lithium brine project in Argentina’s Lithium Triangle, leveraging low-cost production, strategic positioning, and rapid scalability to meet growing global demand.
CORE STRATEGY & GROWTH OBJECTIVES
Near-Term Priorities (2025)
- Commissioning of 250 tpa Lithium Carbonate Pilot Plant in Salta, Argentina, with first production targeted for Q1 2025.
- Completion of Scoping Study (Pre-Feasibility Study, PFS) to define the pathway for large-scale lithium carbonate production.
- Stage 2 drilling campaign targeting resource expansion at Mito and untested northern zones, where the aquifer remains open at depth.
- Construction of evaporation ponds, ensuring efficient lithium recovery and process validation.
- Securing offtake agreements & MoUs to de-risk expansion and support long-term supply partnerships.
Expansion & Scale-Up (2026+)
- Scaling production towards 5,000-15,000 tpa, aligned with efficient CAPEX deployment, financing, and lithium market conditions.
- Evaluating complementary assets in lithium and other battery metals to strengthen the portfolio.
- Environmental approvals & sustainability initiatives, positioning PUR as a low-cost, ESG-driven lithium producer.
- Strategic partnerships & funding strategy, including offtake deals, project financing, and phased development.
Positioned for the Lithium Supply Shift
- Global lithium demand is set to rise 225% by 2030, while a supply deficit is expected from 2026.
- Argentina is leading the lithium expansion, with Pursuit Minerals strategically placed alongside major producers Rio Tinto (Arcadium), Lithium Argentinas, Eramet, and Gangfeng.
- Brine-based lithium projects offer a cost advantage over hard rock, positioning PUR for long-term competitiveness.