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Old 12-09-2010, 12:37 PM
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Default Lithium ETF emerges.

The lithium market gets its day in the limelight as Global X Lithium an ETF will launch later this week. Global X Lithium will track lithium producers and battery makers. The idea for the fund came from R. Marcelo Claure, a Bolivian businessman and founder of Brightstar Corp a $3b distributor of hand-held devices, according to the WSJ. Bolivia contains the largest deposits of lithium so it?s no surprise that the idea for the fund came from that country. Claure, an investor in MC Capital Advisors, a hedge fund, approached Global X Management to start the ETF.

Australia has two Lithium miners operating at the moment. Talisman Lithium a non-listed compnay that operates the Greenbushes Lithium mine said to be the world's largest and highest quality hard rock lithium mine and Galaxy resources (ASX: GXY) who operate the now producing Mt Caitlin mine and are well on the way to producing the world's purest Lithium Carbonate.

My bet is that GXY will be part of the new ETF as they are the only hard rock Lithium ASX listed player from Australia and will become one of the world's top hard rock lithium carbonate producers - China's preferred form of Lithium carbonate for batteries. More posts about GXY

Read about Australian Lithium

 

Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice.

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