Shareholder Update on Pump Replacement
Brisbane, June 16, 2014 AEST (ABN Newswire) - Orocobre Limited (
ASX:ORE) (TSE:ORL) ("Orocobre" or "the Company") wishes to issue an update in response to recent shareholder enquiries regarding the replacement of pumps at the TK-200 transfer ponds to increase brine supply from the southern bore field as detailed in Construction Update on the Olaroz Lithium Project (09 April 2014).
At the time of the announcement, brine supply from the southern bore field was limited by undersized transfer pumps at the TK-200 transfer ponds and correctly sized pumps were expected to be installed by May to achieve peak filling rates. The Company advises that the installation was completed as scheduled and the pumps are operating at expected rates.
The Company will be issuing a comprehensive construction update announcement on the progress of the flagship Olaroz Lithium Project within the next two weeks.
To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ORE-801844.pdf
About Orocobre Limited
Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (
ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF), and is building a substantial Argentine based industrial chemicals company through its portfolio of lithium, potash and boron assets. In partnership with Toyota Tsusho Corporation (TTC) and JEMSE, Orocobre has built and is now operating the world's first commercial, brine-based lithium operation constructed in approximately 20 years.
In 2018 Orocobre announced the Stage 2 Expansion of its flagship Olaroz Lithium Facility in Argentina. The Stage 2 Expansion will add 25,000 tpa of lithium carbonate production capacity, taking full production and capacity to 42,500 tpa of lithium carbonate for sale to industrial, technical and battery markets, positioning Orocobre as one of the world's largest and lowest cost lithium chemicals producers.
Additionally, Orocobre and Toyota Tsusho Corporation have commenced construction of the 10,000 tpa lithium hydroxide plant in Naraha, Japan. The construction of the Naraha Lithium Hydroxide Plant will further cement Orocobre's position as a global lithium chemicals producer operating at the bottom quartile of the lithium cost curve. This new hydroxide plant will be the first of its kind in Japan and will provide Orocobre product diversification suitable for different battery technologies and the potential for significant margin growth on our primary lithium carbonate being converted to battery grade lithium hydroxide.
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