Korea, Bolivia set up joint lithium development venture
07-07-2012 16:21
Korea, Bolivia set up joint lithium development venture
SAO PAULO (Yonhap) --Korea's state-run mineral development corporation set up a joint venture with its Bolivian counterpart to develop lithium products in the South American country, sources said Friday.
Seoul's embassy in La Paz said POSCO, Korea's leading steelmaker, and a consortium led by Korea Resources Corp. (KORES), signed a deal to create a lithium venture with Comibol, Bolivia's mineral development corporation.
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Under the agreement reached Thursday, the new company will make anodes and cathodes for electric vehicles that will be used on rechargeable batteries made from lithium found in Bolivia.
The country's lithium deposit is estimated to stand at around 5.4 million tons, or half of all known reserves in the world.
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http://www.koreatimes.co.kr/www/news/sports/2012/07/182_114651.html