Lithium producer Orocobre ups profit
Australia's Orocobre, which has lithium-potassium brine operations in Argentina, posted a net profit of US$8.2mn in the six months ending December 2017, up 10.8% compared to the prior comparative period, the company said in a press release.
The profit included its share of net gains from the Sales de Jujuy joint venture and an impairment at Borax Argentina.
Revenues were US$10.2mn, up from US$8.6mn in the prior period, mainly due to the profit on the sale of Argentine tenement Diablillos to Lithium X Corp for US$2.2mn.
The company's Ebitdaix (earnings before interest, tax, depreciation and amortization, impairment and foreign exchange losses) was negative US$2.9mn, a 14% improvement.
Orocobre is developing the Salar de Olaroz and Salar de Cauchari lithium-potassium brine projects in Argentina.
In July-December 2017, 6,072t of lithium carbonate were produced at the Olaroz project JV with Toyota.
"Our plans to expand production at our Olaroz facility have been increased to total production of 42,500t/y and we continue work on a 10,000t/y lithium hydroxide plant to be constructed with our partner Toyota Tsusho Corporation in Japan," said CEO Richard Seville.
"Both of these projects are now fully funded," he added.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Mining & Metals (Argentina)
Junior exploration roundup: Cabral, Eloro, Prime and more
Companies operating in Mexico, Brazil, Bolivia, Colombia and Argentina provide updates.
‘In general terms, Latin America has a favorable investment climate’
BNamericas talks to Milton Cheng, global chair of international law firm Baker McKenzie.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Mining & Metals (Argentina)
Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Las Opeñas
- Current stage:
- Updated:
2 weeks ago
- Project: Cachi
- Current stage:
- Updated:
4 weeks ago
- Project: Pascua-Lama
- Current stage:
- Updated:
3 weeks ago
- Project: Chiron
- Current stage:
- Updated:
1 month ago
- Project: Ivana
- Current stage:
- Updated:
1 month ago
- Project: Río Grande Sur
- Current stage:
- Updated:
1 month ago
- Project: Project 2
- Current stage:
- Updated:
1 month ago
- Project: Boleadora
- Current stage:
- Updated:
1 month ago
- Project: Signos
- Current stage:
- Updated:
1 month ago
- Project: Nico
- Current stage:
- Updated:
1 month ago
Other companies in: Mining & Metals (Argentina)
Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Cerro Vanguardia S.A.  (CVSA)
-
The mining company Cerro Vanguardia, S.A. (CVSA), based in Argentina, is engaged in the exploration, mining and processing of gold and silver in the mining concession Cerro Vang...
- Company: Trendix Mining S.R.L  (Trendix Mining)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Minera Don Nicolás S.A.  (Minera Don Nicolás)
-
Minera Don Nicolás S.A. is an Argentinean capital company established in 2015 to develop the gold and silver mining project Don Nicolás, located 38 km. far from Tres Cerros area...
- Company: José Cartellone Construcciones Civiles S.A.  (José Cartellone Construcciones Civiles)
-
José Cartellone Construcciones Civiles S.A. (JCCC) is an Argentine engineering and construction company with a project portfolio that includes hydroelectric plants, power transm...
- Company: Audes Construcciones
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Cerro Cazador S.A.  (Cerro Cazador)
-
Cerro Cazador S.A., a subsidiary of the Canadian Hunt Mining Corporation in Argentina, is a company dedicated to exploring and developing of mining properties in Santa Cruz, Arg...
- Company: Semi S.A.  (SEMISA Construcciones)
-
Argentine company SEMISA, part of local holding company Rovella Capital, provides services for the mining, oil and gas, and power industries. Its service portfolio includes wate...
- Company: PECOM SERVICIOS ENERGÍA S.A.  (PECOM)
-
Pecom Servicios Energía S.A. (PSE) es una empresa argentina fundada en 1947, con sede en Buenos Aires y presencia nacional que ofrece servicios de operación y mantenimiento, y s...
- Company: Minera Aquiline Argentina S.A.  (Minera Aquiline Argentina)
-
Minera Aquiline Argentina S.A. is a subsidiary of Patagonia Gold S.A. It was incorporated to carry out the gold-silver project Calcatreu, located in Río Negro province, 60km sou...