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Orocobre shares rise on inclusion in first global lithium ETF

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Orocobre (ASX: ORE, TSX: ORL) has been included in the world’s first lithium based Exchange Traded Fund (ETF) which includes 20 major liquid lithium mining, refining and battery producing companies.

The ETF, launched by Global X Funds, is designed to track performance of the largest producing companies in the world.

Richard Seville, managing director, said Orocobre’s selection highlights strong confidence in Orocobre’s Salar de Olaraz project in Argentina and lithium as a commodity.

“The decision by Global X Funds to launch a lithium exchange traded fund underscores the strength of the lithium market fundamentals and the positive outlook for the commodity,” Seville said.

“This is a vote of confidence in the lithium sector as a whole and follows strong investment support in the sector from major global motor vehicle companies such as Toyota Tsushu.”

“Investors are increasingly aware of lithium’s important role in the renewable energy market, in particular for use electric vehicle batteries and energy storage.”

“The inclusion as one of just 20 companies in the ETF highlights Orocobre’s position as one of the world’s next large scale, low cost lithium-potash brine producer,” he added.

Orocobre is the leading lithium-potash resource developer in the Puna region of Argentina.

Orocobre's Salar de Olaroz brine deposit is widely recognized as the world's next large scale, low cost Lithium-Potash brine resource.

Orocobre has joined forces with Toyota Tusho to develop Salar de Olaroz, and expects to complete the Definitive Feasibility Study on the project in late 2010, with initial commercial production starting in early 2012.

Quick facts: Orocobre Limited

Price: 2.44 AUD

ASX:ORE
Market: ASX
Market Cap: $638.49 m
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