Olaroz February Production Above Target
Brisbane, Mar 4, 2016 AEST (ABN Newswire) - Orocobre Limited (
ASX:ORE) (TSE:ORL) (OROCF:OTCMKTS) (Orocobre or the Company) wishes to advise on production for February at the Olaroz Lithium Facility.
Production continued to rise in February with 761 tonnes of lithium carbonate produced, in excess of the internal target of 725 tonnes for the month. This is an improvement on the 699 tonnes produced in January and the 427 tonnes produced in December.
Production guidance for the quarter of approximately 2,400 tonnes remains unchanged.
Managing Director, Richard Seville commented; "We are pleased with the continued improvement and above target performance for February and we look forward to achieving our quarterly production target."
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ORE-910776.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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