Posco, Kores to Produce Lithium in Bolivia, La Razon Says

Posco (005490) and Korea Resources Corp. (KORESCRZ) will build Bolivia’s first lithium plant with state-owned mining company Comibol, daily La Razon reported.

The project will produce 30,000 metric tons of lithium, used to make batteries, and 700,000 metric tons of potassium by 2014, the La Paz-based newspaper said, citing Comibol’s lithium manager Luis Alberto Echazu.

Bolivia’s central bank will provide a $879 million loan for the project, La Razon said.

To contact the reporter on this story: Alex Emery in Lima at aemery1@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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