Orocobre 2020 Half-Year Financial Results – WEBCAST
Orocobre Limited (ORE:ASX ORL:TSX), a dynamic global lithium chemicals supplier, has conducted an online webcast briefing regarding financial results for the half-year ended 31 December 2019 (H1 FY20).
Orocobre Agrees to Acquire Advantage Lithium Corp.
Orocobre Limited (Orocobre or the Company) is pleased to announce that it has entered into a definitive agreement (the Agreement) pursuant to which Orocobre will acquire 100% of the issued and outstanding shares of Advantage Lithium Corp. (Advantage) that it does not already own.
Beijing outlines plans to improve air quality more in 2020, use more new energy vehicles
Beijing will cut smog levels further this year by putting more new energy vehicles (NEV) on its roads, reducing diesel-fuelled truck numbers and tightening its supervision of vehicle emissions and refined oil products, the city said on Thursday. The Beijing Municipality government also said it will aim to cut emissions in the petrochemical industry.
Orocobre
Overview
Orocobre is a dynamic global lithium carbonate supplier and an established producer of boron.
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. The Olaroz Stage 2 Expansion’s Finance Facility was finalised in Q1 FY20.
Additionally, Orocobre and TTC have commenced construction of a 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 lithium carbonate being converted to battery grade lithium hydroxide. The majority of production is expected to be delivered to the Japanese battery industry. A cathode manufacturing plant is already in operation in the immediate vicinity and plans have been announced to develop a battery manufacturing facility nearby.
Orocobre also owns Borax Argentina S.A, a well-established boron chemical and mineral producer with extensive operations and a 50-year production history.
Orocobre is dual listed on the Australian Securities Exchange (ASX:ORE), the Toronto Stock Exchange (TSX:ORL) and is included in the S&P/ASX 200 Index.
