October 22, 2010

Yesterday, Bolivian president Evo Morales said that the country will proceed without a foreign partner to produce lithium-ion batteries. Morales complained to reporters, "They only want to invest to buy lithium carbonate...we need partners for the industrialization of lithium batteries in Bolivia."

Previously, France's Bollore, Japan's Sumitomo and Mitsubishi and Korea's LG were reported to be interested in working with Boliva. It seems the risk is too high.

The most interesting news is that there really is no shortage of lithium. Bolivia claims to have enough reserves for 5000 years. If this is true, perhaps Bolivia's future will include foreign investment and development of lithium. Let's hope the current leadership doesn't last for millennia.