Key Developments: Orocobre Ltd (OROCF.PK)
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Latest Key Developments (Source: Significant Developments)
Orocobre Ltd Announces Appointment Of Chief Financial Officer
Orocobre Ltd announced the appointment of Mr. Neil Kaplan to the position of Chief Financial Officer. Mr. Kaplan has 20 years of experience in managerial and finance positions obtained on four different continents. Full Article
Orocobre Ltd Completes Institutional Placement
Orocobre Ltd announced that the Company has completed a placement of 12.35 million ordinary shares to institutional investors in Australia, Hong Kong, the United Kingdom and the United States at an issue price of AUD 1.70 per share, raising AUD 21 million prior to expenses. The proceeds of this capital raising will be used to fund Orocobre's remaining equity contribution for the construction of the Olaroz lithium project, fund Borax Argentina initiatives, and for working capital. Full Article
Orocobre Ltd Signs Agreement With Toyota Tsusho for Development of Olaroz Lithium Project
Orocobre Ltd announced that following positive investment decisions by the board of directors of both Orocobre and Toyota Tsusho Corporation Ltd (TTC), the companies have executed the definitive Shareholders Agreement for a joint venture to develop Orocobre's flagship Olaroz lithium project (Olaroz Project or the Project) located in the Province of Jujuy, northern Argentina. Orocobre's relationship with TTC commenced in January 2010, following the execution of a preliminary agreement which set out a path towards financing and development of Olaroz Project, with TTC's conditional 25% participation. Since then, the companies have successfully collaborated to advance the Project through to this final investment decision. Orocobre's primary focus has been on development activities in Argentina, including completion of the Feasibility Study, process engineering development, production of battery grade lithium carbonate for product qualification, project approvals, and final construction documentation. Meanwhile, TTC has diligently worked on project financing and product marketing to key global customers. Full Article
Orocobre Ltd Acquires Borax Argentina S.A. From Rio Tinto PLC's Rio Tinto Minerals Development Limited And Borax Europe Limited
Orocobre Ltd announced that it has acquired Borax Argentina S.A. from Rio Tinto PLC entities, Rio Tinto Minerals Development Limited and Borax Europe Limited. Borax Argentina has been in operation for over 50 years, and operates three open pit mines in Tincalayu, Sijes, and Porvenir, concentration plants in Tincalayu, Sijes and Porvenir (currently unused), and refinery facilities in Campo Quijano. The consideration for the purchase is USD8.5 million of which USD.5million has been paid with USD1million to be paid annually over the coming three years. The consideration comprises USD3.7 million for all of the issued shares of Borax Argentina and USD,8 million paid to Borax Europe Ltd, a Rio Tinto PLC company as consideration for the assignment of a loan made by it to Borax Argentina. Full Article
Orocobre Ltd Does Not Propose Final Dividend
Orocobre Limited announced that no final dividend has been proposed or paid for the year ended June 30, 2012. Full Article
Orocobre Limited Receives Project Approval And Mining Leases For Olaroz Lithium Project
Orocobre Limited announced that following the recommendation of the Expert Committee responsible for assessing lithium projects in Jujuy province, as announced on June 27, 2012, the Jujuy Government, through the joint resolution of the Production Minister and Secretary to the Government, has approved the development of the Olaroz lithium project. In addition, and following receipt of the development approval, the mining leases for the project have been granted. Full Article
Orocobre Limited Announces Holding Interest Of Acorn Capital Limited
Orocobre Limited announced that Acorn Capital Limited has an interest of 5,528,325 ordinary shares, representing 5.36% of the voting power in the Company. Full Article
Orocobre Limited Not To Pay H1 2012 Dividend
Orocobre Limited announced that no dividends were recommended, declared and paid by the Company for the first half of fiscal 2012. Full Article
Orocobre Limited Not To Pay FY 2011 Final Dividend
Orocobre Limited announced that no final dividend has been proposed or paid for the year ended June 30, 2011. Full Article
Orocobre Limited Announces Award Of Contract
Orocobre Limited announced that it has awarded the detailed engineering contract for the Salar de Olaroz lithium-potash project to Sinclair Knight Merz (SKM). SKM has been involved in the Olaroz project for over a year and recently completed the engineering and cost estimates for the definitive Feasibility Study for the production of 16,400 tons per annum of battery grade lithium carbonate. Full Article
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