Unfortunately for its shareholders, the Orocobre Limited (ASX: ORE) share price is having a disappointing end to the week.
In afternoon trade the lithium miner's shares are down 5.5% to $3.37.
Why have they fallen?
Severe weather in the Puna Region of Argentina and Chile has impacted Orocobre's operations and logistics at the Olaroz Lithium Facility and Borax Argentina.
According to yesterday's release, production was suspended for three days last week after on-site stocks of soda ash were depleted after heavy snowfall forced the closure of the Paso de Jama.
At the start of winter management increased its soda ash stocks to the maximum storage capacity as a contingency, but unfortunately even that wasn't enough to combat the severe weather.
As a result, lithium carbonate production for the June quarter is expected to be approximately 2,400 to 2,500 tonnes. This will result in FY 2017 production of between 11,700 and 11,800 tonnes.
Previous guidance was for between 12,000 and 12,500 tonnes of lithium carbonate after being downgraded from initial guidance of 15,000 tonnes.
