Orocobre Ltd. (TSX:ORL,ASX:ORE) provided a construction update on its Olaroz lithium project, commenting that in terms of physical progress, the construction program is about 95 percent complete. Around US$221 million has been spent, and the project should be completed on budget.
As quoted in the press release:
The Company is pleased to report that the gas fired electricity generation plant at Olaroz was commissioned as scheduled in July. The lining of the remaining evaporation ponds is 97% complete and the lithium carbonate plant construction is nearing completion.
In spite of the challenges of windy conditions and the need to assist construction contractors with procurement of their remaining material and component requirements, the Company has to date managed to materially maintain its schedule.
The start of the lithium carbonate plant commissioning is scheduled for the end of August with the primary lithium carbonate plant followed by the commissioning of the purification circuit and the drying and micronizing circuits in the period to mid-October. Full automatic operation is expected to be achieved during October.