Ann: Rincon Lithium Project - Progress Update, page-127

Don’t pretend they haven’t had their fair share of issues and delays!!!

March 2022:
Total capital cost estimates have been revised to $741 million (on a 100% basis), up 16% from $641 million

May 2022:
mechanical completion and commencement of commissioning targeted for the second half of 2022.

Oct 2022:
capital cost estimates at the official exchange rate have been revised to $852 million (on a 100% basis), up 15% from $741 million

Mar 2023:
Construction is substantially complete and on track to deliver first production by end of H1 2023.
Cauchari-Olaroz expects to ramp up in H2 2023 and reach full production rate of 40,000 tonnes per annum of lithium carbonate by Q1 2024.
Total capital costs, on a 100% basis, have been updated to $979 million

Aug 2023:
In June 2023, Caucharí-Olaroz achieved first lithium production as the project advances commissioning and ramp up to Stage 1 capacity of 40,000 tonnes per annum of battery-quality lithium carbonate, which is scheduled to be completed in mid-2024.

Nov 2023:
During the ramp up, sales are based on market price for battery-quality lithium carbonate less a processing fee to remove the excess potassium chloride (“KCl” ).

Mar 2024:
…achieving 99.5% lithium carbonate content and technical-quality specifications.
Cauchari-Olaroz is producing at approximately 50% of the 40,000 tonnes per annum capacity.
The operation is targeting to reach nameplate capacity on a limited basis by mid-2024 and maintain a level near capacity on a steady state basis by the end of the year.



Thanks for reminding us that these types of projects rarely go to plan.

That’s about the only key takeaway imo.