Orocobre Announces Board of Directors Appointment
BRISBANE, AUSTRALIA -- (Marketwire) -- 11/29/12 -- Orocobre Limited
(TSX:ORL)(ASX:ORE) ("the Company") is pleased to announce that Mr.
Robert Hubbard has been appointed to Orocobre's Board of Directors,
effective today. He will replace Mr. Neil Stuart, who will be
retiring from the Board following the 2012 Annual Meeting of
Shareholders also today, after serving as the company's distinguished
founder and valued member of the Board since the Company's inception.
Mr. Hubbard brings a wealth of experience and pertinent knowledge to
the Orocobre Board. He will be retiring soon from
PricewaterhouseCoopers, having served for over 20 years as a partner
at the firm. During his time as a PwC partner, he served as auditor
for some of Australia's largest resources companies, and acted as
head of the advisory and assurance practices of PwC Brisbane. In
addition to his general Orocobre Board duties, Robert will also chair
the Company's Audit Committee.
Mr. James D. Calaway, Chairman of Orocobre Limited, notes that: "As
we rapidly transition from a project developer into an increasingly
large and complex operating company, adding Rob's vast experience and
capabilities to our Board will considerably benefit the organization.
Rob will help ensure that we continue to take the necessary steps to
refine our operations to meet the highest standard of
Richard Seville, Orocobre's CEO and Managing Director, added, "I
welcome the opportunity to work with Rob as our newest board member.
I also want to say that it has been a distinct honour to have worked
with Neil Stuart from the earliest days of Orocobre. Without the
foresight and contributions of Neil, Orocobre would not exist as the
company it is today. Neil will be missed at the board level but will
always be the founder, and a friend and champion of our company."
About Orocobre Limited
Orocobre Limited is listed on the Australian Securities Exchange and
Toronto Stock Exchange (TSX:ORL)(ASX:ORE) and is building a
substantial Argentinian-based industrial minerals company through the
construction and operation of its portfolio of lithium, potash and
boron projects and facilities in the Puna region of northern
Argentina. The Company is building in partnership wi
th Toyota Tsusho
Corporation and JEMSE, the first large-scale, "greenfield" brine
based lithium plant in nearly 20 years at the Salar de Olaroz. This
high- margin project has a planned production rate after ramp up of
17,500 tonnes per annum of battery grade lithium carbonate scheduled
to commence in Q2 2014. The Company also wholly-owns Borax Argentina,
an important regional borate producer. Orocobre has recently been
included in the S&P/ASX 300 Index and was named 2012 Mining Company
of the Year by Argentine mining magazine Panorama Minero and the
Fundacion para el desarrollo de le Mineria Argentina ("Fundamin" or
Foundation for Development of Argentina Mining). For further
information, please visit www.orocobre.com.
ABN 31 112 589 910
Australia and Asia
+61 7 3871 3985 or +61 419 916 338
VP, Corporate Development
1 604 377 1423
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