Russia’s state-owned company Rosatom has signed an agreement with Bolivia’s Yacimientos de Litio Bolivianos (YLB) to establish an industrial complex in Potosí, Bolivia, for the extraction and production of lithium carbonate.
The joint project, with an investment of US$1.5 billion, aims to produce 50,000 tons of lithium annually.
Lithium is a vital element for energy storage systems in the green economy and is widely used in high-tech industries.
With the world’s largest lithium reserves of 21 million tons, Bolivia seeks to create a complete production chain from raw material extraction to the manufacturing of final products for the market.
Bolivian President Luis Arce expressed his commitment to industrializing this valuable resource.
The signing of the agreements is seen as a significant step toward realizing Bolivia’s industrialization goals.
The planned industrial complex will have an initial annual capacity of 25,000 tons of lithium carbonate, expandable based on geological exploration results.
Rosatom, with over 80 years of experience in lithium processing, will provide training for qualified personnel and contribute to the development of a national lithium industry in Bolivia.
The agreement resulted from Uranium One’s participation in YLB’s international tender for direct lithium extraction technologies.
Russian direct sorption extraction technology, known for its economic efficiency and environmental safety, will be employed for lithium extraction.
The project is expected to generate employment opportunities, improve infrastructure, promote related industries, develop the social sphere, and enhance the quality of life for the Bolivian people.
The agreement signifies a new era in Bolivian-Russian cooperation and further strengthens strategic ties between the two nations.
The advanced Russian technologies for direct lithium extraction are considered the most advanced globally.
Rosatom’s collaboration with Bolivia also includes constructing a Center for Research and Development in Nuclear Technology in El Alto, facilitating the application of nuclear technologies in sectors like healthcare and agriculture.
This new lithium project will contribute to Bolivia’s socioeconomic development and foster trade and production relations with Russia.