Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Bolivia’s head of state, Jeanine Añez, announced the launching of the Mining Confederation of Bolivia’s National Directorate for Exploration and Prospecting (abbreviated Comibol in Spanish).
According to the Añez, the directorate’s objective will be to reactivate mining operations in the country and promote the industrialization of the sector. The organization will also lead exploration and prospecting activities in Bolivia.
The president made the announcement during a visit to the southwestern department of Potosí, where the famous Salar de Uyuni is located.
Uyuni is considered the world’s second-largest lithium deposit, behind Argentina’s salt flats, and hosts most of the 9 million tonnes of lithium buried beneath the country’s salt flats.
Bolivia, however, has faced challenges taking the necessary steps to build a sustainable lithium industry. So far, the country has barely any production of lithium chemicals.
