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OROCOBRE LIMITED - ASX: ORE
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Description
Orocobre Limited is an Australian Securities Exchange( “ASX:ORE”) listed minerals exploration company with a focus on developing “best of class” Lithium, Potash and Boron resources in Argentina.
Orocobre’s flagship lithium-potash project is the Salar de Olaroz (“Olaroz” ) resource in the heart of the lithium rich zone of South America with JORC compliant inferred resource under company control of 1,500,000 tonnes of lithium carbonate and 4,400,000 million tonnes of muriate of potash. The project is 138 kilometers due east of SQM’s Salar de Atacama, the largest and highest operating margin lithium production in the world, and 210 Kilometers north of FMC’ Hombre Muerto production, the second highest operating margin commercial production in the world.
Orocobre’s Salar de Olaroz brine has approximately 15% higher concentration of lithium, and only slightly higher magnesium levels, than those found at FMC’s operations, and has inferred resources that internal reports (See ASX announcements) indicate should be capable of producing over a long mine life , 15,000 tonnes per year of lithium carbonate and with expansion potential. The company expects to co-produce approximately 35,000 tons of Potash and is investigating the potential for boric acid production.
Several factors enhance the potential for Salar de Olaroz resource to be the next premier lithium brine resource to be developed. First, the overall brine chemistry at the salar allows the company to use well understood, and thus lower risk processing sequences. Secondly, the resource is located immediately adjacent to a well maintained and sealed road leading directly to Antofagasta, Chile, which is the primary lithium export port in the world. Thirdly, a large natural gas pipeline and compression station exist nearby and within the same valley as the resource, thus providing low cost access to power.
The company is currently undertaking extensive work at the salar, with the goal of completing its bankable feasibility study by the middle of 2010. This study includes a second round of detailed drilling, longer term pump tests to further verify the nature of the reservoirs, ongoing evaporation testing on-site, brine clean-up techniques during pond evaporation, and plant and facilities design, optimization, and costing. These efforts, and others, should allow the company to commence construction operations later in the second half of 2010, with initial commercial production targeted for mid- 2011.
Mine For
lithium, potash, boron
Location of operation(s)
Argentina
Address
Level 1 , 349 Coronation Drive
MILTON, QLD, AUSTRALIA
Phone
(07) 3871 3985
Website
Last Updated
04/03/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.