Orecobre owns 66.5% of the Olaroz lithium project being constructed near Cauchari in north western Argentina. The project sits at an altitude of 3,900m and requires development of evaporation ponds, bore fields and supporting infrastructure on the salt lake. The lithium resource lies in brine so there is no hard rock mining it is extracted via ponds and evaporation. Construction commenced in November 2012 after a fund raising that attracted little attention. In fact the lack of attention given to the first lithium development for twenty years makes it all the more interesting. The project plans first battery grade lithium carbonate production in 2014 with a target of 17,500 tpa.