Orocobre Limited - Olaroz Lithium Facility Update
BRISBANE, Australia, Dec. 19, 2018 /CNW/ -- Orocobre Limited (ASX: ORE, TSX: ORL) ("Orocobre" or "the Company") wishes to provide an update on commercial and production estimates following the near finalisation of shipping schedules and pricing outcomes.
Sales of lithium carbonate are expected to be approximately 5,000 tonnes for the December half year at a price of US$12,470 per tonne, down approximately 8% on the June half. Production is expected to be approximately 6,000 tonnes for the half year and remains in line with previous guidance for FY19.
The pricing achieved recently has been affected by soft market conditions in China having a direct impact on shorter term contracts resulting in December quarter prices of approximately US$10,800 per tonne on sales of approximately 2,850 tonnes.
There was also an indirect impact as a number of customers outside China have downstream exposure to the Chinese market experiencing market/commercial pressure.
A teleconference will be held at 4.00pm (AEST, Brisbane) on Thursday 20 December 2018, which will be available through the Orocobre website www.orocobre.com.
For more information please contact:
Investor Relations Manager
T: +61 7 3871 3985
M: +61 418 783 701
About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron. Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX: ORE), (TSE: ORL). Orocobre's operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 33.5% interest in Advantage Lithium. For further information, please visit www.orocobre.com