BRISBANE, Australia, Dec. 17, 2017 /CNW/ -- Orocobre Limited (ASX: ORE,TSX: ORL) ("Orocobre" or "the Company") is pleased to provide an update on expected lithium carbonate pricing.
Lithium carbonate delivery quantities and pricing have now been finalized for approximately 85% of the June half 20181 production. Tight market conditions have resulted in increased contract prices being negotiated which, combined with orders carried over from 20171, are expected to result in pricing for the June half 20181 approximately 25% higher than prices received in the December half 20171. The company will meet previous pricing guidance for the December quarter of more than US$11,000/tonne.
Managing Director and CEO, Mr Richard Seville commented, "Contract prices are rising in all markets and we expect this to continue in the foreseeable future as new demand for lithium chemicals exceeds new supply."
For more information please contact:
Investor Relations Manager
T: +61 7 3871 3985
M: +61 418 783 701
E: [email protected]
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), (TSE: 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 33% interest in Advantage Lithium.
For further information, please visit www.orocobre.com
1 All references to years are calendar year.
SOURCE Orocobre Limited