China and Russia have claimed Bolivia’s lithium reserves, which are among the most important in South America, and have pledged to accelerate lithium carbonate production to introduce the Andean country into the lucrative world market for that strategic resource.
The Chinese Citic Guoan and the Russian Uranium One Group, a subsidiary of the giant Rosatom, signed an agreement on Thursday with the state-owned Yacimientos de Litio Bolivianos (YLB). Together they will invest 1,400 million dollars for the construction of two plants for the production and export of 50,000 annual tons of lithium from 2025 in the salt flats of Pastos Grandes, in the southwest of Bolivia.
Pastos Grande is a neighbor of the Salar de Uyuni, the largest saline desert in the world located 380 kilometers south of La Paz. In January of this year, the Bolivian government signed another similar agreement with the Chinese giant Contemporary Amperex Technology (CATL), which was awarded the Salar de Uyuni. The Chinese corporation has already begun work to build two lithium carbonate production plants with an investment of 1.4 billion dollars.
lithium It is considered a strategic resource for the transition to cleaner and renewable energy. Lithium carbonate is the main material in the batteries of electric cars, cell phones and other consumer electronic devices in the world.
“Between June and January we have added 2,800 million dollars for the industrialization of lithium. The world is advancing by leaps and bounds in the demand for lithium, Bolivia does not want to be left behind,” said Bolivian President Luis Arce during the signing of the agreements with Chinese and Russian businessmen at the government house. “We have a significant reserve,” he said.
Arce seeks to reactivate the strategic lithium industry after 14 years of little progress that has left Bolivia behind compared to its neighbors Chile and Argentina, which have gained important spaces in the international market.
Former President Evo Morales (2006-2019) planned to manufacture lithium batteries and electric cars in Bolivia, but made little progress due to a lack of foreign partners. Arce resumed the project and intends to make Bolivia an important global supplier.
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