Bolivia is seeking partnerships with Argentina and Chile to impact the global price of lithium as a sort of lithium OPEC.
Together, these countries possess the largest lithium reserves worldwide, with Bolivia holding 21 million tons, Argentina 19 million tons, and Chile 9 million tons.
Bolivia has established agreements with Argentina’s Y-TEC and its own YLB to exchange knowledge in battery manufacturing.
While there are no formal agreements with Chile, Bolivia hopes to collaborate in the future to influence international lithium prices jointly.
Bolivia has signed investment deals with Russian and Chinese companies to construct lithium extraction and production plants.
Their goal is to produce 100,000 tons of lithium by 2025 and become a significant supplier in the international market.
Bolivia also aims to advance domestic industrialization by manufacturing cathodes and batteries for electric vehicles.
New studies are underway to assess lithium reserves in Coipasa and Pastos Grandes salt flats, which could significantly increase their existing reserves.
Bolivia’s pursuit of partnerships, investments, and industrialization aims to make the most of its lithium reserves and meet the growing demand for electric vehicle batteries.