Korea and Bolivia sign deal on precious lithium
August 27, 2010 § Leave a comment
Only a few days before my trip to Bolivia, I just read that South Korea and Bolivia have signed a memorandum of understanding about a future collaboaration concerning mining and processing lithium in Bolivia.
“In Seoul Thursday, Bolivian President Evo Morales agreed on Korean corporate participation in his country’s lithium development at a meeting with President Lee. The two leaders also signed a memorandum of understanding on developing lithium mines given that Bolivia has the world’s largest lithium reserves. If negotiations go well, a consortium of Korean companies will help build lithium battery factories in the Latin American country. Seoul has many hurdles to overcome before the final contract, however. It also needs to beat other countries seeking to secure lithium such as Japan, China and France. Hopefully, Korea will seal the deal and become an exemplary model for resource diplomacy and investment.”