Orocobre profits soar in H1
PERTH (miningweekly.com) – ASX- and TSX-listed lithium miner Orocobre has reported a net profit after tax of $24-million for the six months ending December, compared with a net profit of $8.1-million in the previous corresponding period, as lithium production from the Olaroz facility, in Argentina, continues to improve.
Some 5 163 t of lithium carbonate was sold during the six months under review, generating revenues of $63.5-million, with earnings before taxes, depreciation and amortisation, impairment and foreign exchange of $36.5-million, compared with the $36.8-million reported in the previous corresponding period.
“Orocobre has continued to bolster its position as a mainstream, profitable, low-cost producer of lithium carbonate,” said MD and CEO Martin Pérez de Solay.
He noted that construction activities for the Stage 2 expansion of the Olaroz lithium facility are progressing well, with the development of key items such as production boreholes, a secondary liming plant, evaporation/harvest ponds, roads and camp upgrades.
The $295-million Stage 2 expansion will increase lithium carbonate production by 25 000 t/y, bringing the total production capacity to 42 500 t/y.
The expansion project will result in the production of some 17 500 t/y of battery grade lithium carbonate, 9 500 t/y of technical grade lithium carbonate as feedstock for the planned 10 000 t/y Naraha lithium hydroxide plant in Japan, and a further 15 500 t/y of technical grade lithium carbonate.
For the full 2019 financial year, Orocobre is expecting lithium production to be on par with that of the 2018 financial year, in which the company produced 12 470 t of lithium carbonate.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.
VISIT SHOWROOM
ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
