Thailand walks back claim of large lithium discovery

BANGKOK -- A Thai official announced on Thursday the discovery of large lithium deposits in southern Thailand that she said represented the world's third-largest reserves after Bolivia and Argentina of the key battery-making material for electric vehicles.

But on Saturday, the deputy government spokesperson toned down the claim, saying that the ore contained only 0.45% lithium. The deputy spokesperson said this would still be enough to produce one million batteries with a capacity of 50 kilowatt-hours.