Orocobre Limited

Orocobre Limited

September 19, 2010 22:11 ET

Orocobre Further Strengthens Board with Appointment of Argentina Based Non-Executive Director

BRISBANE, AUSTRALIA--(Marketwire - Sept. 19, 2010) - The Directors of Orocobre Ltd (TSX:ORL)(ASX:ORE) are delighted to announce the appointment of Frederico Nicholson as a Non-Executive Director.

Mr. Nicholson is Orocobre's second Non-Executive Director based in Argentina and is a highly regarded business leader in Argentina. He has played a senior role in the development and operation of Ledesma S.A.A.I. (Ledesma) one of the country's largest agro-industrial companies and largest sugar producer in Argentina. Ledesma employs more than 5,500 people making it the largest employer in Jujuy province, where Orocobre's flagship Salar de Olaroz project is located.

Mr. Nicholson is one of the most well known and respected business leaders in northern Argentina and brings to the Board a comprehensive understanding of building and operating successful companies in the Jujuy and Salta provinces of Argentina.

Orocobre Chairman, James Calaway said that he was delighted to welcome Mr. Nicholson to Orocobre's Board.

"The appointment of Frederico completes the transformation of the Orocobre Board into a strong governing body," Mr. Calaway said.

"We now have a Board with the skills, relationships and experience needed to fulfill our vision of becoming the leading lithium-potash resource developer in Argentina.

"Frederico joins Fernando Oris de Roa as the second Argentinean on our Board and we expect their combined local experience will be invaluable as we progress our projects towards production.

"Over his 40 year business career, Frederico has developed deep and sound linkages with the business and political leadership in the Jujuy and Salta Provinces of Argentina.

"We welcome Frederico and expect that Orocobre's Board and shareholders will greatly benefit from his experience."

Paul Crawford, Company Secretary

About Mr Frederico Nicholson

Mr. Frederico Nicholson currently serves as an Executive Director of Ledesma S.A.A.I (Ledesma), a diversified agro-industrial producer that specializes in sugar, alcohol, paper, fruits, juices, livestock and grains. In addition to his Board duties he has full responsibility for Ledesma's Public Affairs and Corporate Management. Mr. Nicholson is also the Vice President of the Argentine Industrial Union (UIA), the country's leading business advocacy group. He also serves as President of the Argentine North Regional Sugar Center, Vice President of the Argentine Pulp and Paper Association, and Deputy Secretary of the Food Industries Association. Mr. Nicholson is the former President of the National Industrial Movement, and former Vice President of the Argentine Corn Starch and Syrups Chamber.

About Orocobre Limited

Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (TSX:ORL)(ASX:ORE) and is the leading lithium-potash developer in the lithium and potassium rich Puna Lithium Province of Argentina.

Contact Information

  • Australia and Asia
    Orocobre Limited
    Richard Seville, Managing Director
    +61 7 3871 3985
    M +61 419 916 338
    FD Third Person
    Gemma Young
    +61 8 9386 1233
    M +61 412 349 345
    North America
    Orocobre Limited
    James D. Calaway, Chairman
    +1 (713) 366-0301
    M +1 (713)-818-1457
    Jessica Wagner
    +1 (312) 861 4707
    M +1 (646) 258 7439