Photo by: Reuters
PERTH (miningweekly.com) – Dual-listed Orocobre on Wednesday said that it was on target to reach commercial lithium carbonate production from the Olaroz project, in Argentina, by the end of August this year.
ASX- and TSX-listed Orocobre told shareholders that the project construction was about 85% complete, with the company having spent nearly $194-million of the budgeted $229.1-million construction costs.
Construction of the Olaroz project started in November 2012.
The project was expected to produce about 17 500 t/y of lithium carbonate and could produce about 20 000 t/y of potash with future developments.
Olaroz is held in a joint venture between Orocobre, which owns a 66.5% share, and partners Toyota Tsusho Corporation, as well as the Jujuy Province Mining and Energy Company.