The company chinese Citic Guoan and the Russian Uranium One Group signed an agreement with the state-owned company Yacimientos de Litio Bolivianos (YLB) for the right to explore lithium reserves in Bolivia.
The countries committed themselves to accelerating the production of lithium carbonate in the South American country with the aim of introducing this resource to the world market, which is strategic for the energy transition to cleaner and more renewable sources.
Together, the powers will invest US$ 1.4 billion for the construction of two factories for the production and export of 50,000 tons of lithium per year starting in 2025, in the Salar de Pastos Grandes, in southwest Bolivia.
“Between June and January we added US$ 2.8 billion for the industrialization of lithium. The world is making great strides in response to this demand, and Bolivia cannot be left behind,” said Bolivian President Luis Arce during the signing of agreements with Chinese and Russian businessmen at government headquarters.
In January of this year, the government of Bolivia signed another similar agreement with the Chinese giant Contemporary Amperex Technology (CATL), to explore lithium in the Salar de Uyuni, the largest salt desert in the world, located 380 kilometers south of La Paz, with investment of US$ 1.4 billion.
Former president Evo Morales (2006-2019) planned to manufacture lithium batteries and electric cars in the country, but little progress was made due to a lack of foreign partners. Arce is now resuming the project, but is leading it towards making Bolivia a global supplier of the metal.
Source: CNN Brasil
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