Orocobre Limited: Borax Argentina Develops Nuclear Grade Boric Acid

Tue Mar 19, 2013 9:02pm EDT

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Orocobre Limited

March 19, 2013 - 09:01:50 PM

Orocobre Limited: Borax Argentina Develops Nuclear Grade Boric Acid

BRISBANE, AUSTRALIA--(Marketwire - March 19, 2013) - Orocobre Limited
(TSX:ORL)(ASX:ORE) ("Orocobre" or "the Company") is pleased to announce the
development of a new chemical product by Borax Argentina.

Earlier this month Borax Argentina SA made the first shipment of Boric Acid
HPN (High Purity Nuclear) Grade to a customer in Brazil. Boric Acid HPN is a
new refined chemical product developed by Borax Argentina over the last six
months with characteristics of high purity (greater than 99.9%) and low levels
of key impurities such as iron, sodium, chlorine, sulphur. Heavy metal levels
are less than one part per million. The high boric acid content and low
impurity levels makes the product suitable for use in nuclear power plants.
Boric acid is used in nuclear power plants to slow down the rate at which
fission is occurring. 

The development of this new product reinforces the inherent flexibility in the
Borax Argentina operation and highlights the ability of the business to
produce new specialist high specification products for high value niche
markets. Boric Acid HPN will form an integral part of the product portfolio as
Borax Argentina becomes more geographically diverse by growing its presence in
key international markets. 

This follows on from the recent development of a high grade hydroboracite
product for the agriculture market. Richard Seville, Managing Director of
Orocobre said, "This is another great example of innovation by the Borax
Argentina business and fits with our strategy to expand sales into new markets
and new geographical regions."

Paul Crawford, Company Secretary

About Orocobre Limited 

Orocobre Limited is listed on the Australian Securities Exchange and Toronto
Stock Exchange (ASX:ORE)(TSX:ORL), and is building a substantial
Argentinian-based industrial minerals company through the construction and
operation of its portfolio of lithium, potash and boron projects and
facilities in the Puna region of northern Argentina. The Company is building
in partnership with Toyota Tsusho Corporation the first large-scale,
"greenfield" brine based lithium project in 20 years at its flagship Salar de
Olaroz resource, with projected production of 17,500 tonnes per annum of
low-cost battery grade lithium carbonate scheduled to commence in Q2 2014. The
Company also wholly-owns Borax Argentina, an important regional borate
producer. Orocobre has recently been included in the S&P/ASX 300 Index and was
named 2012 Mining Company of the Year by Argentine mining magazine Panorama
Minero and the Fundacion para el desarrollo de le Mineria Argentina
("Fundamin" or Foundation for Development of Argentina Mining). For further
information, please visit www.orocobre.com.

Caution Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of
applicable securities legislation. Forward-looking information contained in
this release includes, but is not limited to, the draw down of finance for the
Olaroz Project, the completion of construction at the Olaroz Project and the
timing thereof, the commencement of commercial production at the Olaroz
Project and the timing thereof, the cost of construction relative to the
estimated capital cost of the Olaroz Project, the design production rate for
lithium carbonate and potash at the Olaroz Project, the expected brine grade
at the Olaroz Project, the expected operating costs at the Olaroz Project and
the comparison of such expected costs to expected global operating costs, and
the ongoing working relationship between Orocobre and the Province of Jujuy.

Such forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause actual results to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to the risk of further changes in government
regulations, policies or legislation; the possibility that required
concessions may not be obtained, or may be obtained only on terms and
conditions that are materially worse than anticipated; the risk that the
conditions precedent to draw down the project financing with Mizuho Corporate
Bank will not be met; that further funding may be required, but unavailable,
for the ongoing development of the Company's projects; fluctuations or
decreases in commodity prices; uncertainty in the estimation, economic
viability, recoverability and processing of mineral resources; risks
associated with weather patterns and impact on production rate; risks
associated with construction and development of the Olaroz Project; unexpected
capital or operating cost increases; uncertainty of meeting anticipated
program milestones at the Olaroz Project; general risks associated with the
feasibility and development of the Olaroz Project; as well as those factors
disclosed in the Company's Annual Information Form for the year ended June 30,
2012 filed at www sedar.com.

The Company believes that the assumptions and expectations reflected in such
forward-looking information are reasonable. Assumptions have been made
regarding, among other things: the timely receipt of required approvals and
completion of agreements on reasonable terms and conditions; the ability of
the Company to obtain financing as and when required and on reasonable terms
and conditions; the prices of lithium and potash; and the ability of the
Company to operate in a safe, efficient and effective manner. Readers are
cautioned that the foregoing list is not exhaustive of all factors and
assumptions which may have been used. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities

ABN 31 112 589 910

Australia and Asia: Orocobre Limited
David Hall
Business Development Manager
M: +61 7 3871 3985

North America: Orocobre Limited
James Calaway
M: +1 (713) 818 1457
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