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Lithium Economics
Bolivia:
The New Saudi Arabia of the World?
Mar 16, 2009
In recent months there
has been a real avalanche of news and comments from the international press
about the lithium reserves of the Salar of Uyuni. In this context, Bolivia has
been compared with Saudi Arabia in reference to the possibility that the country
will become in the next few years a major energy source on earth. However, it
is too early to tell whether Bolivia will become the new Saudi Arabia of the
world. This depends on at least three factors.
First, the electric
car rush must start to begin with. In order for this to happen the launch of
GM´s Volt is crucial. It is important to remember that it was precisely GM the
first global car maker to announce in January 2007 that by 2010 it would
introduce the first mass-produced lithium-powered plug-in hybrid electric cars
into the market. This should not diminish the importance of the recent BYD and
Chery cars launching in China, pointing only to the magnitude of the US market
for one of the world´s most revolutionary technological innovations of the last
100 years.
Second, Bolivia has to
start producing lithium carbonate in a proportion appropriate to the world´s
needs. This, of course, is not an easy task considering both the country´s lack
of experience in producing the metal and the government´s decision not to allow
any foreign assistance or investment in this endeavor.
Third, increases in
lithium prices (emerging perhaps from an early temporary supply crunch) should
not make the production of other lithium resources (e.g. spodumene) commercially
viable.
* Economist,
Lithium Economics Analyst based in Bolivia, jczuleta@gmail.com
Times Article Viewed: 3266
Note.- This a republication of a blog originally published on EVWorld.com on March 16, 2009.
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