Bolivia’s YLB firm plans to spend US$2.8 billion on its lithium industry. The government will control the entire supply chain.
YLB signed three deals for design studies with a Russian and two Chinese companies.
The Bolivian company and China’s CBC established a US$1.4 billion partnership earlier. They will build two factories at Uyuni and Coipasa salt flats.
These factories will make up to 50,000 tons of lithium carbonate a year.
In June, YLB made more deals with China’s Citic Guoan and Russia’s Uranium One Group. This added another US$1.4 billion for two more factories.
These factories will use Direct Lithium Extraction technology and be at Pastos Grandes and Uyuni.
Bolivia has 23 million tons of lithium in reserve. This data is under global certification. The nation continues exploring more salt flats like Pastos Grandes, Cañapa, and Capina.
Background
Lithium is crucial for rechargeable batteries in electric cars. Global demand for lithium is rising fast.
Bolivia aims to control its valuable lithium supply through a self-run model.
Both China and Russia want to secure lithium for their green energy projects. For Bolivia, the deals could mean tech gains and funds.
The country faces economic issues and needs new income sources.
Past attempts to tap Bolivia’s lithium met delays. Now, with US$2.8 billion backing, things look better.
The plan could position Bolivia as a top lithium provider.
Chile and Argentina also produce lithium. Yet, Bolivia’s big reserves might lead to better prices.
This self-run approach could inspire other resource-rich nations.