Orocobre Limited: August Update-First Brine Production at the Olaroz Lithium Project

Orocobre Limited: August Update-First Brine Production at the Olaroz Lithium 
BRISBANE, AUSTRALIA -- (Marketwired) -- 09/04/13 -- Orocobre Limited
(TSX:ORL)(ASX:ORE) ("Orocobre" or "the Company") is pleased to
announce the commissioning of the first production wells and the
commencement of the filling of the first evaporation pond at the
Olaoroz lithium project.  
To view a photo of the first flow into the evaporation pond, please
visit the following link:
The first pumping and filling of evaporation pond 4B occurred at the
beginning of August to coincide with the local customary celebration
of Pachamama (Mother Earth). This was four weeks earlier than
scheduled. Additional bores have been commissioned and pumping has
been increased to 30% of design rate and is scheduled to achieve the
full rate by November.  
The filling of evaporation pond 4B is significant for a number of
reasons. Firstly, the commencement of the brine filling is ahead of
schedule. Secondly, this effectively signals the beginning of the
first step in the process of manufacture of lithium carbonate.
Finally, it signals the end of a period where there were a high
number of concurrent activities in progress and also where we reached
the peak headcount on site.  
The project continues to proceed on time and within budget. A total
of US$121m has been spent or committed via executed contracts in the
construction project to date.  
A summary of the recent and current activities on site is listed
below with some images capturing the recent journey.  
The following tasks are currently in progress and at varying stages
of completion: 

--  Foundations and metal structure fabrication for process plant buildings,
    soda ash warehouse, finished product warehouse and maintenance
--  Construction of warehouse and maintenance workshop building 
--  Groundwork and concrete foundations of water treatment plant 
--  Waste water treatment plant 2nd stage 
--  Drilling of the remaining 6 brine wells 
--  Installation of deep well pumps 
--  Civil works in the brine collection area 
--  Evaporation pond construction (conclusion of pond P1, P2, P3) 
--  Erection of liming plant structure and equipment 
--  Water plant tank construction 
--  Gas pipeline construction 
--  Erection of final modules for the camp 
--  Camp infrastructure construction (erection and connection of bulk gas
--  Overflow channel construction 
--  Construction of process buildings (main building, soda ash and end
    product storage) 
--  Liner installation of second evaporation pond 
--  Construction of reinforced earth gabions for transfer pumps foundation 
--  Construction of overhead power lines 

To view photos of the evaporation pond, please visit the following
link: http://media3.marketwire.com/docs/orl904b.pdf.  
More images, including aerial photographs are available on our web
page under "Gallery". Please click here for the most recent images:
The Company continues to follow the "Jujuy First" strategy to
successfully work with suppliers and the employment bureau to focus
on the hiring of local people from the communities of Olaroz,
Huancar, Puesto Sey, Pastos Chicos, Catua, Susques, Jama, El Toro,
Coranzuli, San Juan and Abrapampa. The Company recently sponsored the
Olaroz Chico student graduation trip to Salta and Jujuy cities.  
The project implementation is through EPCM (Engineering, Procurement
and Construction Management) with a high proportion of local
involvement through construction and supply contracts and local
employment. The unique community and shared value policy continue to
be a key success factor, training local people under the supervision
of high quality experienced professionals.  
The Olaroz lithium project is being developed by Orocobre (66.5%)
with partners Toyota Tsusho Corporation ("TTC") (25%) and the Jujuy
Province mining and energy company, JEMSE (8.5%) with a construction
budget of US$229m including contingency. First production is
scheduled for the end of the second quarter, 2014. 
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 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 la 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 may include, 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 tha
t 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. 
ABN: 31 112 589 910
Orocobre Limited - Australia and Asia
David Hall
Business Development Manager
+61 7 3871 3985 or Mobile: +61 407 845 052
Orocobre Limited - North America
James Calaway
Mobile: +1 (713) 818 1457
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