The Lithium Chase

[groovedaddy]

For many years, few metals drew bigger yawns from mining executives than lithium, a lightweight element long associated mostly with mood-stabilizing drugs. Suddenly, the yawns are being replaced by eurekas. As awareness spreads that lithium is a crucial ingredient for hybrid and electric cars, a global hunt is under way for new supplies of the metal.

Toyota Tsusho, the material supplier for the big Japanese automaker, announced a joint venture in January with the Australian miner Orocobre to develop a $100 million lithium project in Argentina. That deal came only days after Magna International, the Canadian car parts company that is helping develop a battery-powered version of the Ford Focus, announced that it was investing $10 million in a small Canadian lithium firm that also has projects in Argentina.

They were the latest in a series of deals and projects announced over the last year, reflecting a new urgency among companies to assure themselves future supplies of the metal.

“There is a sea change under way,” James D. Calaway, the chairman of Orocobre, said. “We are at the front end potentially of a very significant increase in the demand for lithium for the emerging electric transportation sector.”

http://www.nytimes.com/2010/03/10/business/energy-environment/10lithium.html?th&emc=th

[HysteryDiagnosis]

1. Will they change the name to unobtainium?? Curious.n/t

[groovedaddy]

2. Ha ha! n.t

[kristopher]

3. Lithium shortage claims = fossil industry propaganda

AN ABUNDANCE OF LITHIUM

R. Keith Evans


March 2008









Keith Evans, a geologist by profession, first became involved in the lithium business in the early
1970’s when, on behalf of Selection Trust Ltd., was asked to evaluate the future potential of
Bikita Minerals in what, at that time, was Southern Rhodesia (later Zimbabwe). Selection Trust
was the majority owner of the operation which, prior to the imposition of United Nations
sanctions, had been the dominant producer of lithium ores for direct usage in the glass and
ceramics industry.
Subsequently, he joined Lithium Corporation of America, the then leading lithium chemical
producer and later moved to Amax Exploration.
On behalf of Amax and a Chilean partner he negotiated with Corfo, a Chilean government entity,
the rights to evaluate and develop that part of the Salar de Atacama that had not been leased to
the Foote Mineral Company.
He was responsible for all aspects of the evaluation but when Amax decided not to proceed with
the project it was acquired by Sociedad Quimica y Minera (SQM) and the company is now the
world’s largest lithium chemicals producer.
Throughout his career in the lithium industry it was his responsibility to monitor industry
developments particularly in respect of new resources and he has continued as a consultant in a
number of industrial minerals.






ABSTRACT

In 1976 a National Research Council Panel estimated that Western World lithium reserves and
resources totaled 10.6 million tonnes as elemental lithium.

Subsequent discoveries, particularly in brines in the southern Andes and the plateaus of western
China and Tibet have increased the tonnages significantly. Geothermal brines and lithium
bearing clays add to the total.

This current estimate totals 28.4 million tonnes Li equivalent to more than 150.0 million tonnes
of lithium carbonate of which nearly 14.0 million tonnes lithium (about 74.0 million tonnes of
carbonate) are at active or proposed operations.

This can be compared with current demand for lithium chemicals which approximates to 84,000
tonnes as lithium carbonate equivalents (16,000 tonnes Li).

Concerns regarding lithium availability for hybrid or electric vehicle batteries or other foreseeable
applications are unfounded.


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