ORE Orocobre Limited

Orocobre Limited (TSX:ORL)(ASX:ORE) ("Orocobre" or "the Company") is pleased to
advise that progress on the Olaroz Lithium Project continues to proceed on time
and within budget. 


In terms of physical progress the construction program is approximately 70%
complete. 


The brine pumping rate has reached approximately 190 l/s. The steady state
operational rate required is 180l/s with a peak filling rate of approximately
220l/s to be achieved as the remaining bores are commissioned. 


The liming plant commissioning schedule commenced on the 15th of December.

The gas pipeline has been completed. The precommissioning schedule for the gas
pipeline commenced on the 13th of December.


Evaporation pond earthworks remain ahead of schedule. Evaporation pond 1B is on
schedule for lining to be completed in December.


Construction works continue on the lithium processing plant, finished goods
warehouse and the soda ash warehouse. 


The electricity generation plant is currently under construction and is on
schedule for completion in December. There are currently 3 diesel generators in
service.


The project continues to proceed on time and within budget. A total of
approximately US$156m has been spent or committed via executed contracts in the
construction project to date. 


Orocobre also took part in the International Seminar of Engineering and
Construction in the Mining Industry in Buenos Aires during the 28th and 29th of
November. Country Manager, Jose de Castro was one of the speakers.


To view the images associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/orl1218images.pdf.


More images are available on our web page under "Gallery".

Please click here for the most recent images.

The Company continues to follow the "Jujuy First" strategy to successfully work
with suppliers and the employment bureau to focus on the hiring of local people
from the communities of Olaroz, Huancar, Puesto Sey, Pastos Chicos, Catua,
Susques, Jama, El Toro, Coranzuli, San Juan and Abrapampa.


The project implementation is through EPCM (Engineering, Procurement and
Construction Management) with a high proportion of local involvement through
construction and supply contracts and local employment. The unique community and
shared value policy continues to be a key success factor, training local people
under the supervision of high quality experienced professionals. 


The Olaroz lithium project is being developed by Orocobre (66.5%) with partners
Toyota Tsusho Corporation ("TTC") (25%) and the Jujuy Province mining and energy
company, JEMSE (8.5%) with a construction budget of US$229m including
contingency. First production is scheduled for the end of the second quarter,
2014.


About Orocobre Limited

Orocobre Limited is listed on the Australian Securities Exchange and Toronto
Stock Exchange (TSX:ORL)(ASX:ORE), and is building a substantial
Argentinian-based industrial minerals company through the construction and
operation of its portfolio of lithium, potash and boron projects and facilities
in the Puna region of northern Argentina. The Company is building in partnership
with Toyota Tsusho Corporation the first large-scale, "greenfield" brine based
lithium project in 20 years at its flagship Salar de Olaroz resource, with
projected production of 17,500 tonnes per annum of low-cost battery grade
lithium carbonate scheduled to commence in Q2 2014. The Company also wholly-owns
Borax Argentina, an important regional borate producer. Orocobre is included in
the S&P/ASX 300 Index and was named 2012 Mining Company of the Year by Argentine
mining magazine Panorama Minero and the Fundacion para el Desarrollo de la
Mineria Argentina ("Fundamin" or Foundation for Development of Argentina
Mining). For further information, please visit www.orocobre.com.


Caution Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of
applicable securities legislation. Forward-looking information contained in this
release may include, but is not limited to, the draw down of finance for the
Olaroz Project, the completion of construction at the Olaroz Project and the
timing thereof, the commencement of commercial production at the Olaroz Project
and the timing thereof, the cost of construction relative to the estimated
capital cost of the Olaroz Project, the design production rate for lithium
carbonate and potash at the Olaroz Project, the expected brine grade at the
Olaroz Project, the expected operating costs at the Olaroz Project and the
comparison of such expected costs to expected global operating costs, and the
ongoing working relationship between Orocobre and the Province of Jujuy.


Such forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause actual results to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to the risk of further changes in government
regulations, policies or legislation; the possibility that required concessions
may not be obtained, or may be obtained only on terms and conditions that are
materially worse than anticipated; the risk that the conditions precedent to
draw down the project financing with Mizuho Corporate Bank will not be met; that
further funding may be required, but unavailable, for the ongoing development of
the Company's projects; fluctuations or decreases in commodity prices;
uncertainty in the estimation, economic viability, recoverability and processing
of mineral resources; risks associated with weather patterns and impact on
production rate; risks associated with construction and development of the
Olaroz Project; unexpected capital or operating cost increases; uncertainty of
meeting anticipated program milestones at the Olaroz Project; general risks
associated with the feasibility and development of the Olaroz Project; as well
as those factors disclosed in the Company's Annual Report for the year ended
June 30, 2013 filed at www.sedar.com.


The Company believes that the assumptions and expectations reflected in such
forward-looking information are reasonable. Assumptions have been made
regarding, among other things: the timely receipt of required approvals and
completion of agreements on reasonable terms and conditions; the ability of the
Company to obtain financing as and when required and on reasonable terms and
conditions; the prices of lithium and potash; and the ability of the Company to
operate in a safe, efficient and effective manner. Readers are cautioned that
the foregoing list is not exhaustive of all factors and assumptions which may
have been used. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers
should not place undue reliance on forward-looking information. The Company does
not undertake to update any forward-looking information, except in accordance
with applicable securities laws.


ABN 31 112 589 910

FOR FURTHER INFORMATION PLEASE CONTACT: 
Australia and Asia: Orocobre Limited
David Hall
Business Development Manager
+61 7 3871 3985 or M: +61 407 845 052
dhall@orocobre.com


North America: Orocobre Limited
James Calaway
Chairman
M: +1 (713) 818 1457
jcalaway@orocobre.com
www.orocobre.com

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