Lithium producer Orocobre (ASX:ORE) has signed three pivotal agreements with joint venture partner Toyota Tsusho Corporation.
Members of the Orocobre Executive Management team visited TTC’s office in Tokyo, Japan to finalise and sign a new Olaroz Shareholders Agreement, Sales and Marketing Agreement.
The new Olaroz Shareholders Agreement formalises changes to the joint venture that will allow Orocobre to consolidate earnings from Olaroz in reported statutory accounts.
Under this new agreement, Orocobre will be paid a management fee of 1.5 per cent of gross revenue reported by the Olaroz Joint Venture from 1 July 2019.
Shares in Orocobre (ASX:ORE) closed down 0.25 per cent to $4:00.