Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

BRIEF-Orocobre Says Olaroz Stage 2 Expansion Final Investment Decision Approved

Published 28/11/2018, 03:50 pm
BRIEF-Orocobre Says Olaroz Stage 2 Expansion Final Investment Decision Approved
ORE
-

Nov 28 (Reuters) - Orocobre Ltd ORE.AX :

* OLAROZ STAGE 2 EXPANSION FID APPROVED

* DURING DEVELOPMENT OF STAGE 2, STAGE 1 PLANT WILL PROGRESSIVELY MIGRATE TO 100% BATTERY GRADE LITHIUM CARBONATE PRODUCTION

* STAGE 2 EXPANSION WILL INCREASE LITHIUM CARBONATE PRODUCTION CAPACITY BY ABOUT 25,000 TONNES PER ANNUM

* REVISED TOTAL CAPITAL EXPENDITURE FOR STAGE 2 IS EXPECTED TO BE US$295 MILLION INCLUDING US$25 MILLION CONTINGENCY

* STAGE 2 EXPANSION WILL BE FUNDED BY A COMBINATION OF PROJECT DEBT, OPERATING CASHFLOWS AND SHAREHOLDERS LOANS

* US$180 MILLION OF PROJECT FINANCE ANTICIPATED TO BE PROVIDED BY A JAPANESE BANK ON SIMILAR TERMS TO STAGE 1 PROJECT FINANCE FACILITY

* EXPECTED COST OF PROJECT IS ABOUT US$15M AND WILL BE SUBJECT TO NORMAL JOINT VENTURE CAPITAL APPROVAL PROCESSES IN DUE COURSE

* OROCOBRE WILL BE PAID A FEE OF 1.5% OF SALES REVENUE FOR MANAGING OLAROZ OPERATIONS.

* CO, TOYOTA TSUSHO CORPORATION AND JV BOARDS APPROVED FINAL INVESTMENT DECISION FOR STAGE 2 EXPANSION OF OLAROZ LITHIUM FACILITY

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.