ORE Orocobre Limited

Orocobre Limited (ASX:ORE) (TSX:ORL) ("Orocobre" or "the Company") is pleased to
advise progress on the relocation of the borax chemical plant. 




--  Dismantling of existing equipment at Campo Quijano is 92% complete 

--  Installation of new equipment at Tincalayu is 85% complete

--  The project continues to progress on time and within budget with 70% of
    the budget spent or committed



The project is about to enter into the final quarter of the relocation and
construction programme with the target completion date being the end of June
2014.


To view an image of the Tincalayu Site, please visit the following link:
http://media3.marketwire.com/docs/933980A.pdf 


The following is a summary of what has been achieved to date:



--  Complete Engineering Design 
--  Repair and maintenance of existing equipment at Tincalayu, 73% complete 
--  Civil work at Tincalayu, 89% complete 
--  Dismantling of existing equipment at Campo Quijano, 92% complete 
--  Repair and maintenance of equipment at Campo Quijano commenced in
    January and is 44% complete 
--  Construction and installation of new equipment is 85% complete which
    includes the installation of the: 
    --  Dissolver (86%) 
    --  Overflow tanks (92%) 
    --  Hot air generator (57%) 
    --  Decanters (82%) 
    --  Generators (93%) 
    --  Centrifuges (86%) 
    --  Electrical works (86%)
--  The flocculant plant is 54% complete



The project continues to progress on time and within budget with 70% of the
budget spent or committed.


To view the images accompanying this section of the announcement, please visit
the following link: http://media3.marketwire.com/docs/933980B.pdf 


The relocation of the borax plant to the Tincalyu mine site will have
significant benefits through both the reduction of operating unit costs and also
increasing overall mineral recovery from the mine. Historically, run-of-mine ore
at 17% B2O3 has been concentrated at Tincalayu using dry magnetic separation to
produce a 21% grade which is then transported 350 kms from Tincalayu to Campo
Quijano for production of borax chemicals. Recovery through the dry magnetic
separation plant has previously been only approximately 60%. When the borax
plant relocation to the Tincalayu mine site is complete the borax plant will
treat run-of-mine ore without the use of the magnetic separation plant. This
will result in:




--  no loss of mineral content prior to the borax plant as there will be no
    concentration stage 
--  removal of the operating costs of the dry magnetic separation
    concentration stage  
--  improvement in the freight cost profile by cartage of finished products
    with grades between 37% and 49% B2O3 as opposed to a 21% grade
    concentrate. 



The capital budget for the project is US$3.7m net of existing plant and equipment. 

About Orocobre Limited 

Orocobre Limited is listed on the Australian Securities Exchange and Toronto
Stock Exchange (ASX:ORE) (TSX:ORL), 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 at the end of 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.


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


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

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