Bolivia has signed a $1 billion contract with China’s CBC for two lithium carbonate plants in Uyuni, enhancing its position in the global lithium market. The plants will produce 10,000 and 25,000 tons annually. The agreement follows a prior $970 million deal with Russia’s Uranium One Group and ongoing discussions with Citic Guoan Group for further developments.
On Tuesday, Bolivia announced a significant $1 billion partnership with China’s CBC, a subsidiary of the prominent lithium battery manufacturer CATL, to establish two lithium carbonate production facilities in its southwestern region. The state-owned Bolivia Lithium Deposits (YLB) indicated that one plant will have a capacity to produce 10,000 tons of lithium carbonate annually, while the second will produce 25,000 tons, both located in the renowned Uyuni salt flats. With the growing demand for lithium in electric vehicle and mobile phone batteries, this development positions Bolivia to play a crucial role in the global lithium market.
Lithium has gained immense attention as a vital resource for modern technology, particularly in the production of batteries essential for electric vehicles and consumer electronics. Bolivia possesses the largest lithium deposits in the world, primarily concentrated in the Uyuni salt flats. This resource has the potential to transform Bolivia’s economy, particularly as international demand for lithium continues to rise. Recent agreements with foreign companies reflect Bolivia’s strategy to capitalize on its lithium reserves and enhance its standing in the global market.
In conclusion, Bolivia’s $1 billion agreement with China for lithium production marks a pivotal step towards establishing the nation as a major player in the global lithium industry. With significant deposits at its disposal and ongoing negotiations for additional contracts, Bolivia aims to influence international lithium prices significantly. As these deals await parliamentary approval, the potential for growth in Bolivia’s economy and long-term development remains on the horizon.
Original Source: www.france24.com
