Orocobre signs agreements with Toyota Tsusho Corporation

Company News

by Rachael Jones

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Last Updated: 19/06/2019 3:25 PM

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.