Orocobre Limited: Borax Argentina Develops Nuclear Grade Boric Acid

Tue Mar 19, 2013 9:02pm EDT

* Reuters is not responsible for the content in this press release.

  BRISBANE, AUSTRALIA, Mar 19 (MARKET WIRE) --
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 laws.

    ABN 31 112 589 910

Contacts:
Australia and Asia: Orocobre Limited
David Hall
Business Development Manager
M: +61 7 3871 3985
dhall@orocobre.com

North America: Orocobre Limited
James Calaway
Chairman
M: +1 (713) 818 1457
jcalaway@orocobre.com

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