Are you sick and tired of the ever-increasing price of your phone, laptop and other electronics? Well if that’s the case then I’ve got terrible news for you, as Bolivia’s president, Luis Arce, is pushing hard to form a lithium cartel with neighbours Argentina, Brazil and Chile. This will mean larger bargaining power for the Latin American countries when it comes to the cost of lithium, which could result in massive price hikes on all your electronics. Looks like those Airpods you’ve been saving for might just jump out of your price range.
According to Reuters, the push for the lithium version of OPEC was first brought to the forefront by Mexican president Andres Manuel Lopez, who now seems to be rallying the other countries to his cause. With South America having nearly 70% of the world’s lithium deposit they could easily monopolise it. That combined with the ever-advancing technological society we live in, means only one thing; everything will have some form of electronics in it and thus the demand for lithium will be through the roof. The first steps, according to Oilprice, for this realising has already begun with Arce planning on industrialising Bolivia’s lithium before 2025. He has inked a deal with a consortium that included CAT and CMOC to start development of two lithium plants.
So, unless environmental activists or the economic superpowers can find a way to stop this from happening, not only will some of the most beautiful environments in the world be torn apart, but the world going forward will be a far more expensive one.
