Orocobre Limited: Celebration of the Official Opening of Olaroz Construction

Orocobre Limited: Celebration of the Official Opening of Olaroz Construction 
BRISBANE, AUSTRALIA -- (Marketwire) -- 03/19/13 --  
Editors Note: There are photos associated with this press release. 
OROCOBRE LIMITED (TSX:ORL)(ASX:ORE) A large function involving
dignitaries, government, company staff, representatives of ten local
communities and members of the business community was held on
Thursday 14 March at the Salar de Olaroz to celebrate the official
opening of the Olaroz project construction. Approximately 500 people
The ceremony was attended by dignitaries Amado Bodou, Vice-President
of Argentina; Eduardo Fellner, Governor of the Province of Jujuy;
Hector Luzco, Susques Municipal Commissioner; Misashi Mizukami,
Japan's Ambassador to Argentina and company representatives, James
Calaway, Chairman; Richard Seville, Managing Director; Federico
Nicholson, Director; Jose De Castro Alem, Group General Manager. 
Richard Seville, Managing Director, highlighted that the Company's
partner, Toyota Tsusho Corporation and financiers had had the
confidence and trust that local management would deliver the project
on time and within budget and hence supported the project.  
"There were two main aspects that created this confidence and trust.
First, there is the technical confidence created by Sales de Jujuy
who developed a unique process for production of lithium carbonate,
the purest in the world, which has two years of production history
through the pilot plant. Secondly, there is the confidence to build
Olaroz and commission the operation successfully. What we are doing
here is novel and we had to initiate a process to market and sell the
project to convince our financiers and partners."  
On the policy of Sales de Jujuy adding value in the local Jujuy
community, Mr Seville said that the creativity and problem-solving
skills of the Argentine team provides a different approach to
construction and as a result created a partnership between business,
local communities and provincial and federal government. 
"This strategy has a name and it is called JUJUY FIRST. It is
therefore essential that Sales de Jujuy maintain control of the
project and always keep in mind the objective to maximise social and
economic benefits for the province.  
"With nearly US$80m of contracts awarded to date, 60% of the
providers are Jujuy based companies and the remaining 20% is with
other Argentine companies. In my view, this is an unprecedented
amount of local content for any mining project in the country and
this process did not increase our budget," said Mr Seville. 
In terms of the social responsibility strategy implemented by Sales
de Jujuy, Mr Seville said that this is maintained by the cooperation
of the ten communities near the project and as an example he cited
the joint direction they give to the Labour Exchange, which provides
the system that allows opportunities for employment, education and
training for local community people, contractors and businesses.
"Now, 70% of people employed are from local communities and 95% are
from Jujuy."  
Finally, he acknowledged the association with the government and
cited the government equity position through JEMSE, thanked the
government sectors that were involved in approving the project and
expressed his personal pride in working in collaboration and
partnership across all government, business and community sectors to
start production of lithium carbonate. 
In line with the President's speech, Amado Bodou, Vice-President of
Argentina said the Olaroz project is a clear example of social
inclusion policy being advocated by Cristina Fernandez de Kirchner. 
For his part, Governor Fellner said in a conversation with the
president, he had stated that he needed a different direction for
Jujuy, an industrialization policy, a challenge he was willing to
accept. The start of the construction work to industrialize lithium
in Jujuy is a clear example of mutual trust and support between the
company and the communities of the highlands. 
Also attending the event were provincial officials, legislators,
businessmen, media and the general public. Students of secondary
schools in the local communities received netbooks with lithium
batteries through the Ministry of Education and its program "Connect
Paul Crawford, Company Secretary 
About Orocobre Limited 
Orocobre Limited is listed on the Australian Securities Exchange and
Toronto Stock Exchange (ASX:ORE)(TSX:ORL), 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 with Toyota Tsusho
Corporation the first large-scale, "greenfield" brine based lithium
project in 20 years at its flagship Salar de Olaroz resource, with
projected production of 17,500 tonnes per annum of low-cost 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
Caution Regarding Forward-Looking Information 
This news release contains "forward-looking information" within the
meaning of applicable securities legislation. Forward-looking
information contained in this release includes, but is not limited
to, the draw down of finance for the Olaroz Project, the completion
of construction at the Olaroz Project and the timing thereof, the
commencement of commercial production at the Olaroz Project and the
timing thereof, the cost of construction relative to the estimated
capital cost of the Olaroz Project, the design production rate for
lithium carbonate and potash at the Olaroz Project, the expected
brine grade at the Olaroz Project, the expected operating costs at
the Olaroz Project and the comparison of such expected costs to
expected global operating costs, and the ongoing working relationship
between Orocobre and the Province of Jujuy. 
Such forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause actual results
to be materially different from those expressed or implied by such
forward-looking information, including but not limited to the risk of
further changes in government regulations, policies or legislation;
the possibility that required concessions may not be obtained, or may
be obtained only on terms and conditions that are materially worse
than anticipated; the risk that the conditions precedent to draw down
the project financing with Mizuho Corporate Bank will not be met;
that further funding may be required, but unavailable, for the
ongoing development of the Company's projects; fluctuations or
decreases in commodity prices; uncertainty in the estimation,
economic viability, recoverability and processing of mineral
resources; risks associated with weather patterns and impact on
production rate; risks associated with construction and development
of the Olaroz Project; unexpected capital or operating cost
increases; uncertainty of meeting anticipated program milestones at
the Olaroz Project; general risks associated with the feasibility and
development of the Olaroz Project; as well as those factors disclosed
in the Company's Annual Information Form for the year ended June 30,
2012 filed at www sedar.com. 
The Company believes that the assumptions and expectations reflected
in such forward-looking information are reasonable. Assumptions have
been made regarding, among other things: the timely receipt of
required approvals and completion of agreements on reasonable terms
and conditions; the ability of the Company to obtain financing as and
when required and on reasonable terms and conditions; the prices of
lithium and potash; and the ability of the Company to operate in a
safe, efficient and effective manner. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions which
may have been used. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to update
any forward-looking information, except in accordance with applicable
securities laws. 
To view the photos associated with this press release, please visit
the following links:
ABN 31 112 589 910
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Australia and Asia: Orocobre Limited
David Hall
Business Development Manager
M: +61 7 3871 3985
North America: Orocobre Limited
James Calaway
M: +1 (713) 818 1457
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