Orocobre (ASX:ORE) announces record production at Olaroz facility

Company News

by Anna Napoli

Orocobre (ASX:ORE) has announced record first quarter production of 3,093 tonnes at its Olaroz lithium facility. The result is  35 per cent higher than the year earlier period.

The strong outcome came on the back of a strategy of managing brine quality, new pond preparation and tailoring production to seasonal conditions.

Quarterly sales revenue at Olaroz went the other way, declining 21 per cent on a quarter on quarter basis to US$22.1 million.

Orocobre expects that full-year production for FY20 will be at least 5 per cent higher than FY19.

Shares in Orocobre (ASX:ORE) are trading 5.06 per cent lower at $2.25.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.