Orocobre Limited - Multi-year contracts for Olaroz battery grade lithium carbonate
BRISBANE, Australia, Jan. 19, 2020 (GLOBE NEWSWIRE) -- Orocobre Limited (ASX: ORE, TSX: ORL) (“Orocobre” or “the Company”), is pleased to advise that two contracts have been signed for supply of battery grade lithium carbonate to top tier Chinese cathode manufacturers.
Toyota Tsusho Corporation (“TTC”), as joint sales and marketing agent for production from the Olaroz Lithium Facility (“Olaroz”), has signed one contract for supply of a total 7,200 tonnes of battery grade lithium carbonate and a second contract for supply of a total 2,880 tonnes of micronised battery grade lithium carbonate. Both contracts will see the total tonnages delivered over three years with the first shipments expected to commence in the March quarter 2020.
The sales price for each contract will be set as per an agreed formula and is linked to market pricing with a floor and cap.
Orocobre Managing Director and CEO Mr. Martín Pérez de Solay commented, “This is a welcome first step towards our previously stated commercial strategy of selling a greater proportion of our product under long term sales agreements with key customers.”
Richard S. Anthon
Joint Company Secretary
For more information please contact:
Andrew Barber
Chief Investor Relations Officer
Orocobre Limited
T: +61 7 3720 9088
M: +61 418 783 701
E: abarber@orocobre.com
W: www.orocobre.com
https://twitter.com/OrocobreLimited
https://www.linkedin.com/company/orocobre-limited
https://www.facebook.com/OrocobreLimited/
https://www.instagram.com/orocobre/
https://www.youtube.com/OrocobreLimited
Click here to subscribe to the Orocobre e-Newsletter
About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron. Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX: ORE), (TSX: ORL). Orocobre’s operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 34.7% interest in Advantage Lithium. The Company has commenced an expansion at Olaroz and construction of the Naraha Lithium Hydroxide Plant in Japan. For further information, please visit www.orocobre.com.
