Orocobre signs pivotal agreements with Toyota Tsusho Corporation December 14, 2018

Orocobre has signed three pivotal agreements with joint venture partner Toyota Tsusho Corporation (TTC). Members of the Orocobre Executive Management team visited TTC’s office in Tokyo, Japan to finalise and sign a new Olaroz Shareholders Agreement, Sales and Marketing Agreement and Orocobre Management Agreement (for management of the Olaroz Joint Venture).

The new Olaroz Shareholders Agreement formalises changes to the joint venture that will allow Orocobre to consolidate earnings from Olaroz in reported statutory accounts. Orocobre accounts will be consolidated from 1 January 2019. As previously advised (see ASX Release dated 28 November 2018) Orocobre and TTC agreed on a new joint marketing arrangement for production from both Stage 1 and 2 where the joint partners will work together to set the strategic direction of customer arrangements and commercial terms.

As exclusive sales agent, TTC remains responsible for logistical and contractual arrangements with customers and execution of the agreed sales strategy. A new Management Agreement has been established for the ongoing management of the Olaroz Joint Venture by Orocobre.

Under this new agreement, Orocobre will be paid a management fee of 1.5% of gross revenue reported by the Olaroz Joint Venture from 1 July 2019.

During the visit incoming Orocobre Managing Director/CEO Martín Pérez de Solay met with TTC Board and senior Management team members as well as key personnel from Japan Oil, Gas and Metals National Corporation (JOGMEC).

To be the first to hear about Project Updates, ASX Releases, Company News and more – CLICK HERE to subscribe to the Orocobre eNewsletter

Latest News &
Announcements

All our latest news, speeches, announcements, presentations and media releases from Orocobre Limited. The best way to stay up to date is to sign up for our newsletter.

  • Volkswagen to invest over $1 billion on a battery production plant in Germany

    Volkswagen to invest over $1 billion on a battery production plant in Germany

    Volkswagen will invest almost 1 billion euros (US$1.1 billion) in battery cell production at a facility in western Germany and is seeking to simplify the group by spinning off or selling units, the automaker said on Monday. Volkswagen said in a statement after a supervisory board meeting it would set up the battery facility in... View Article
  • Tesla expects global shortage of electric vehicle battery minerals

    Tesla expects global shortage of electric vehicle battery minerals

    Tesla Inc expects global shortages of nickel, copper and other electric-vehicle battery minerals down the road due to underinvestment in the mining sector, the company’s global supply manager for battery metals told an industry conference on Thursday, according to two sources.
  • Chinese electric car maker BYD’s first-quarter profit up 632 percent

    Chinese electric car maker BYD’s first-quarter profit up 632 percent

    Chinese electric vehicle maker BYD Co Ltd, backed by U.S. investor Warren Buffett, reported on Sunday a 632 percent jump in its first-quarter net profit, buoyed by strong demand for its new energy vehicles. The Shenzhen-based car and battery maker, which has a joint venture with Daimler AG in China, said last month it expected... View Article

Be the first to know.
Subscribe Now.

We will never sell or share this information to anyone. Privacy Policy
© 2019 Orocobre Limited Pty Ltd