Nov 28 (Reuters) - Orocobre Ltd (ORE) :
- OLAROZ STAGE 2 EXPANSION FID APPROVED
- DURING DEVELOPMENT OF STAGE 2, STAGE 1 PLANT WILL PROGRESSIVELY MIGRATE TO 100% BATTERY GRADE LITHIUM CARBONATE PRODUCTION
- STAGE 2 EXPANSION WILL INCREASE LITHIUM CARBONATE PRODUCTION CAPACITY BY ABOUT 25,000 TONNES PER ANNUM
- REVISED TOTAL CAPITAL EXPENDITURE FOR STAGE 2 IS EXPECTED TO BE US$295 MILLION INCLUDING US$25 MILLION CONTINGENCY
- STAGE 2 EXPANSION WILL BE FUNDED BY A COMBINATION OF PROJECT DEBT, OPERATING CASHFLOWS AND SHAREHOLDERS LOANS
- US$180 MILLION OF PROJECT FINANCE ANTICIPATED TO BE PROVIDED BY A JAPANESE BANK ON SIMILAR TERMS TO STAGE 1 PROJECT FINANCE FACILITY
- EXPECTED COST OF PROJECT IS ABOUT US$15M AND WILL BE SUBJECT TO NORMAL JOINT VENTURE CAPITAL APPROVAL PROCESSES IN DUE COURSE
- OROCOBRE WILL BE PAID A FEE OF 1.5% OF SALES REVENUE FOR MANAGING OLAROZ OPERATIONS.
- CO, TOYOTA TSUSHO CORPORATION AND JV BOARDS APPROVED FINAL INVESTMENT DECISION FOR STAGE 2 EXPANSION OF OLAROZ LITHIUM FACILITY
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