Response to ASX Price Query
Brisbane, Dec 16, 2015 AEST (ABN Newswire) - Orocobre Limited (
ASX:ORE) (TSE:ORL) Response to ASX Price Query.
Orocobre Limited (the Company) - ASX Price Query
I refer to your correspondence of today's date.
In relation to the questions you seek a response to, the Company advises as follows:
1. The Company is not aware of any information concerning it that has not been announced to the market that could explain the recent trading in the market.
2. Not Applicable.
3. The Company does not have any other explanation for the recent trading in its securities other than to note that:
(a) at the recently concluded 2015 United Nations Climate Conference, 195 countries entered into "The Paris Agreement" pursuant to which a target of limiting future global warming increases to less than 2 degrees was set. To achieve this goal greenhouse gas emissions will need to be substantially reduced and the use of renewable energy resources substantially increased. The use of rechargeable batteries in both transport and energy storage, where lithium ion batteries are the predominant technology, can be expected to increase significantly to meet this demand; and
(b) in contrast with the majority of commodities, the price for Lithium Carbonate has continued to increase with recent market prices in excess of US$10,000 per tonne being reported in China. The current limited opportunities for new and existing producers to increase supply to the market in the near term has also led to concerns of supply shortages.
4. The Company confirms that it is in compliance with the Listing Rules and in particular Listing Rule 3.1.
To view the complete ASX Price Query release, please visit:
http://media.abnnewswire.net/media/en/docs/81854-ASX-ORE-897928.pdf
About Orocobre Limited
Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (
ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF), and is building a substantial Argentine based industrial chemicals company through its portfolio of lithium, potash and boron assets. In partnership with Toyota Tsusho Corporation (TTC) and JEMSE, Orocobre has built and is now operating the world's first commercial, brine-based lithium operation constructed in approximately 20 years.
In 2018 Orocobre announced the Stage 2 Expansion of its flagship Olaroz Lithium Facility in Argentina. The Stage 2 Expansion will add 25,000 tpa of lithium carbonate production capacity, taking full production and capacity to 42,500 tpa of lithium carbonate for sale to industrial, technical and battery markets, positioning Orocobre as one of the world's largest and lowest cost lithium chemicals producers.
Additionally, Orocobre and Toyota Tsusho Corporation have commenced construction of the 10,000 tpa lithium hydroxide plant in Naraha, Japan. The construction of the Naraha Lithium Hydroxide Plant will further cement Orocobre's position as a global lithium chemicals producer operating at the bottom quartile of the lithium cost curve. This new hydroxide plant will be the first of its kind in Japan and will provide Orocobre product diversification suitable for different battery technologies and the potential for significant margin growth on our primary lithium carbonate being converted to battery grade lithium hydroxide.
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