Orocobre Limited: Borax Plant Relocation Update

Orocobre Limited: Borax Plant Relocation Update 
BRISBANE, AUSTRALIA -- (Marketwired) -- 03/18/14 --   Orocobre
Limited (ASX: ORE) (TSX: ORL) ("Orocobre" or "the Company") is
pleased to advise progress on the relocation of the borax chemical

--  Dismantling of existing equipment at Campo Quijano is 92% complete 
--  Installation of new equipment at Tincalayu is 85% complete
--  The project continues to progress on time and within budget with 70% of
    the budget spent or committed

The project is about to enter into the final quarter of the relocation
and construction programme with the target completion date being the
end of June 2014. 
To view an image of the Tincalayu Site, please visit the following
link: http://media3.marketwire.com/docs/933980A.pdf  
The following is a summary of what has been achieved to date: 

--  Complete Engineering Design 
--  Repair and maintenance of existing equipment at Tincalayu, 73% complete 
--  Civil work at Tincalayu, 89% complete 
--  Dismantling of existing equipment at Campo Quijano, 92% complete 
--  Repair and maintenance of equipment at Campo Quijano commenced in
    January and is 44% complete 
--  Construction and installation of new equipment is 85% complete which
    includes the installation of the: 
    --  Dissolver (86%) 
    --  Overflow tanks (92%) 
    --  Hot air generator (57%) 
    --  Decanters (82%) 
    --  Generators (93%) 
    --  Centrifuges (86%) 
    --  Electrical works (86%)
--  The flocculant plant is 54% complete

The project continues to progress on time and within budget with 70% of
the budget spent or committed. 
To view the images accompanying this section of the announcement,
please visit the following link:
The relocation of the borax plant to the Tincalyu mine site will have
significant benefits through both the reduction of operating unit
costs and also increasing overall mineral recovery from the mine.
Historically, run-of-mine ore at 17% B2O3 has been concentrated at
Tincalayu using dry magnetic separation to produce a 21% grade which
is then transported 350 kms from Tincalayu to Campo Quijano for
production of borax chemicals. Recovery through the dry magnetic
separation plant has previously been only approximately 60%. When the
borax plant relocation to the Tincalayu mine site is complete the
borax plant will treat run-of-mine ore without the use of the
magnetic separation plant. This will result in: 

--  no loss of mineral content prior to the borax plant as there will be no
    concentration stage 
--  removal of the operating costs of the dry magnetic separation
    concentration stage  
--  improvement in the freight cost profile by cartage of finished products
    with grades between 37% and 49% B2O3 as opposed to a 21% grade

The capital budget for the project is US$3.7m net of existing plant and
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 at the end of Q2, 2014.
The Company also wholly-owns Borax Argentina, an important regional
borate producer. Orocobre is 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 Report for the year ended June 30, 2013 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. 
Australia and Asia
David Hall
Business Development Manager
Orocobre Limited
+61 7 3871 3985 or M: +61 407 845 052
North America
James Calaway
Orocobre Limited
+1 (713) 818 1457
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