Toyota, one of the leading automakers in the world, bought this week a 25% stake in Salar de Olaroz lithium and potassium project in Argentina to ensure supply for it growing electric cars division.
OROCOBRE LIMITED Mining News
During the past several months, the company has made substantial progress on key activities required to commence construction of commercial operations at the Olaroz Lithium-Potash project in northwest Argentina, including completion of management negotiations on investment terms of Toyota Tsusho Corporation Ltd, debt financing arrangements with Mizuho Corporate Bank Ltd and Japan Oil, Gas and Metals National Corporation (JOGMEC) and advancement of the project's approval process with the Provincial Government of Jujuy, Argentina.
Orocobre Limited (TSX:ORL)(ASX:ORE) is pleased to report that it has produced battery grade lithium carbonate from Salar de Olaroz brines. Orocobre's analysis shows that the lithium carbonate is of greater than 99.9% purity* and of higher purity than the specifications for battery grade material sold by existing producers. This material was produced by refining a lower purity product previously produced at the company's facilities at Olaroz with recirculated brines. As such, the Company considers the material to be representative of what could be expected in commercial production.