Orocobre Limited Stock Market Press Releases and Company Profile
Appointment of new Chairman
Appointment of new Chairman

Brisbane, July 19, 2016 AEST (ABN Newswire) - Orocobre Limited (googlechartASX:ORE) (googlechartTSE:ORL) (googlechartOROCF:OTCMKTS) wishes to advise that Mr. James Calaway has resigned as a Director and Chairman of the Board of Directors of Orocobre.

Current non-executive Director, Mr. Robert Hubbard has been appointed Chairman to replace him.

Mr. Calaway joined the Board of Orocobre in 2009 as Non-Executive Chairman and has guided the Company from a junior explorer through to a globally significant lithium producer. Over that time the Company's market capitalisation has grown from A$30 million to over A$1 billion, which recently resulted in the Company's admission to the S&P ASX All Australian 200 index.

Mr. Calaway leaves the Company in a strong position approaching the completion of the ramp-up of the Olaroz Lithium Facility to full nameplate production and with outstanding opportunities for expansion.

"Orocobre is a strong operating company with a deep bench of managerial talent and a cohesive and engaged Board of Directors," Mr. Calaway said.

"I have been deeply honoured to have had a meaningful role during the transformation of the Company, but believe that it is the right time for me to have more flexibility to pursue my other personal and business interests as I approach 60. This change will allow me to further expand my solar development company, DPP which also has interests in South America."

I want to thank our able team, led by Richard Seville, for making me an integral part of the development of the Company, and for the courage and grit that the team has displayed throughout the long process of making Olaroz a reality. I also want to thank my fellow directors. Each of them were brought onto the board during my tenure. They are a wise and fully engaged board that have always constructively worked through challenges in the interest of the Company and its stakeholders. I am confident that the Company is in the best of hands. I have also worked extensively with Rob Hubbard over the last few years and know he will be a fine chairman. I am humbled and proud to have been the Chairman of this Board over these many years of growth and real wealth creation."

CEO and Managing Director Richard Seville said "It has been a great privilege working with James over the last seven years. It has been a great Chairman/Managing Director partnership. He is a man of great commitment and has made a significant contribution to the company with his ideas, energy and enthusiasm and I would like to formally thank him and wish him success with his other ventures.

I would also like to congratulate Robert Hubbard on his appointment to the role of Chairman, having already held the role of Chair of the Audit Committee. Rob brings a great wealth of knowledge and experience along with a strong background in Corporate Governance," he said.

Mr. Hubbard was previously a partner at PricewaterhouseCoopers for over 20 years where he served as auditor and advisor for some of Australia's largest resource companies with activities throughout Australia, Papua New Guinea, West Africa and South America.

Mr. Hubbard is also a non-executive Director of Bendigo and Adelaide Bank, Primary Health Care Limited and Chairman of Central Petroleum Limited.

About Orocobre Limited

Orocobre Limited (ASX:ORE)Orocobre Limited  is listed on the Australian Securities Exchange and Toronto Stock Exchange  (ASX:ORE) (TSE:ORL) (OTCMKTS:OROCF), and is building a substantial Argentine based industrial chemicals company through its portfolio of lithium, potash and boron assets. In partnership with Toyota Tsusho Corporation (TTC) and JEMSE, Orocobre has built and is now operating the world's first commercial, brine-based lithium operation constructed in approximately 20 years.

In 2018 Orocobre announced the Stage 2 Expansion of its flagship Olaroz Lithium Facility in Argentina. The Stage 2 Expansion will add 25,000 tpa of lithium carbonate production capacity, taking full production and capacity to 42,500 tpa of lithium carbonate for sale to industrial, technical and battery markets, positioning Orocobre as one of the world's largest and lowest cost lithium chemicals producers.

Additionally, Orocobre and Toyota Tsusho Corporation have commenced construction of the 10,000 tpa lithium hydroxide plant in Naraha, Japan. The construction of the Naraha Lithium Hydroxide Plant will further cement Orocobre's position as a global lithium chemicals producer operating at the bottom quartile of the lithium cost curve. This new hydroxide plant will be the first of its kind in Japan and will provide Orocobre product diversification suitable for different battery technologies and the potential for significant margin growth on our primary lithium carbonate being converted to battery grade lithium hydroxide.

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Contact

Richard Seville
Managing Director
T: +61-7-3871-3985
M: +61-419-916-338
E: rseville@orocobre.com

David Hall
Business Development Manager
T: +61-7-3871-3985
M: +61-407-845-052
E: dhall@orocobre.com



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