Potosí (pōtōsēˈ) [key], city (1992 pop. 112,078), capital of Potosí dept., S Bolivia, at the foot of one of the world's richest ore mountains. In the cold, bleak, high Andes at an altitude of c.13,780 ft (4,200 m), Potosí is one of the highest cities in the world. There is no agriculture in the region. Potosí was founded in 1545 and during its first 50 years was the most fabulous source of silver the world had ever known. Because of isolation, living discomfort, and a series of disasters, such as the flood of 1626, the mines proved unable to compete with those of Peru and Mexico. Improved technology and communications, however, have made possible the exploitation of silver, as well as tin, lead, and copper, and the revival of commercial life. Furniture, beverages, electrical equipment, and mosaics are manufactured. The city's colonial landmarks include the Mint House, a replica of Spain's Escorial. Potosí's university was founded in 1571.