bolivian govt prepares for lithium bidding, page-2

The Bolivian government is waiting for offers to come in from foreign investors to develop the country's lithium deposits, and once they are received it will organize a formal international bidding process.

"There are a number of companies looking at the sector and we are waiting for their proposals in order to begin the bidding application process," mining director Freddy Beltrán told BNamericas.

Although Beltrán did not specify a schedule, he highlighted that in September French President Nicolas Sarkozy will visit the country.

Meanwhile, French company Bolloré has expressed interest in mining lithium in Bolivia.

Other interested companies include South Korea's state-owned Kores and private company LG, and Japanese companies Mitsubishi and Sumitomo.

BRAZIL

According to Beltrán, last weekend Bolivia signed an agreement with the government of Brazil for cooperative studies on technologies that can be used to exploit the lithium carbonates from salt-brine in the Uyuni salt flat.

During the signing of this agreement, Brazil also expressed interest on the part of miner Vale (NYSE: VALE) in investing US$1.5bn in lithium development, Bolivian media reported.

Recently, Bolivian state miner Comibol said that it would invest US$100,000 in drilling projects in the Uyuni salt flat to gather precise geological data, evaluate the reserves available, and establish resources for lithium, potassium, boron and magnesium.

The Uyuni salt flat, with a surface area of almost 10,000km2, is the largest in the world.