WorldWide Drilling Resource

54 APRIL 2014 WorldWide Drilling Resource ® Bolivia’s National Treasure Compiled by Amy White, Associate Editor WorldWide Drilling Resource ® In the heart of the Andes Mountains, lies the beautiful and complicated country of Bolivia. Though endowed with some of the world’s most valuable mineral de- posits, Bolivia is the poorest country in South America, and one of the poorest in the entire Western Hemisphere. How- ever, as the world’s hunger for lithium grows, all eyes are on the estimated 5.5 million tons of reserve lithium in Bolivia’s Uyuni salt flats. More than two centuries ago, stag- gering amounts of silver were discov- ered in what is now Bolivia. Since then, the country has been faced with a never-ending boom and bust cycle of resource discovery, exploitation, priva- tization, and collapse. A series of dis- coveries including tin, zinc, tungsten, bismuth, and antimony followed behind silver. Lithium reserves in Bolivia are the most exciting prospect for the future of fair and just mining in the country. Currently, Chile and Argentina are the leading producers of lithium from brine; but with demand for lithium rapidly on the rise, Bolivia is gaining attention as it sits atop half of the world’s known reserves. Though the country’s resources have been known since the 1980s, exploration drilling is just now taking place in the Uyuni salt flats to find out more about the massive reserve of lithium located there. Lithium is practically everywhere. It’s in cell phones, tablets, and computers, as well as hybrid and electric cars. Lithium is also used to make glasses, ceramics, lu- bricants, chemical products, and pharma- ceuticals. With this in mind, Bolivia could potentially transform global demand into funds for development. Recently, Bolivian President Evo Morales inaugurated a Chinese-made $3.7 million facility to manufacture lithi- um-ion batteries near the Uyuni salt flats. The Bolivian state mining company is currently operating the pilot plant and producing small amounts of lithium car- bonate as they experiment with various forms of extraction. “If we in Bolivia have the greatest re- serve of lithium, why not have the great- est lithium industry? This must be our goal, and it is in our hands,” said Morales. Morales is Bolivia’s first Indigenous president. Coming into office, he pledged to renationalize the country’s mineral reserves, and promote an evenhanded sharing of extraction rights among Indigenous groups whose mining her- itage is central to their identity. Morales insisted firms wishing to have a role in Bolivia’s lithium industry must accept the state’s “absolute con- trol” of the metal, and the fact that La Paz - the seat of the country’s govern- ment - is entitled to 60% of all profits. Companies such as Mitsubishi, LG, and Sumitomo have approached Bolivia about developing the salt flats, but Morales is committed to maintaining Bolivian control of any projects, which makes negotiations complex. The world is waiting to see if Bolivia’s lithium will serve a vital role in the glob- al marketplace. For now, the pilot plant symbolizes the promise of things to come. Tesoro Nacional De Bolivia Compilado por Amy White, Editor Asociado WorldWide Drilling Resource ® En el corazón de las montañas de los Andes, se encuentra el país hermoso y complicado de Bolivia. Aunque dotado de algunos de los yacimientos minerales más valiosos del mundo, Bolivia es el país más pobre de América del Sur, y uno de los más pobres de todo el Hemisferio Occidental. Sin embargo, como el ham- bre por el litio en el mundo crece, todos los ojos están puestos en los aproxi- madamente 5.5 millones de toneladas de Lithium: Bolivia’s white gold. Photo by Lucas Galuzzi, courtesy of bolivianexpress.org Hector Leos Translator "0",-" - 0 &' '" &) (*-. -&2"- )! )/( ", *# ' !"- "1 -"! &.- *'" +")",- , $ &.- &)$- ((",- ((", &.- &0",.",- " .&++&)$ . &'&2",- ' 1 &.- &+" &+"- *'. *) "".% / - * &'" &. *&) ,*! %*.( &' *( 111 &. *&) *( Bolivia trans cont’d on page 56.