Orocobre Limited: Borax Plant Relocation Update

FOR: Orocobre Limited 
MARCH 18, 2014 
Orocobre Limited: Borax Plant Relocation Update 
BRISBANE, AUSTRALIA--(Marketwired - March 18, 2014) - Orocobre Limited
(ASX:ORE) (TSX:ORL) ("Orocobre" or "the Company") is
pleased to advise progress on the relocation of the borax chemical plant.  
--  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
To view an image of the Tincalayu Site, please visit the following link:
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: http://media3.marketwire.com/docs/933980B.pdf  
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 www.orocobre.com 
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
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
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 
INDUSTRY:  Manufacturing and Production - Mining and Metals 
-0- Mar/18/2014 12:27 GMT
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