Bolivia has signed a $1 billion deal with China’s CBC to build two lithium carbonate plants. President Luis Arce highlighted the importance of this project for Bolivia’s role in the international lithium market. This agreement follows a previous $970 million deal with Russia’s Uranium One Group, pending parliamentary approval.
On Tuesday, Bolivia formalized a significant $1 billion agreement with China’s CBC, a subsidiary of CATL, the world’s leading lithium battery manufacturer. This partnership aims to establish two lithium carbonate production facilities in southwest Bolivia, a region known for its expansive lithium reserves. President Luis Arce expressed that this venture could position Bolivia as a pivotal influence in the global lithium market, crucial for manufacturing batteries in electric vehicles and mobile devices.
Bolivia possesses the world’s largest lithium deposits, a resource increasingly sought after due to the rising demand for electric vehicles and renewable energy technologies. This new agreement follows a previous $970 million deal with Russia’s Uranium One Group to develop a lithium extraction facility. Overall, Bolivia is striving to enhance its role in the international lithium supply chain, a sector critical to sustainability and technology.
The recent $1 billion agreement with China represents a strategic move for Bolivia to capitalize on its lithium resources. As the country engages further with international partners, including a potential contract with China’s Citic Guoan Group, it is poised to significantly impact the global lithium market. Pending parliamentary approvals for these projects, the developments suggest a growing trend towards investment in Bolivia’s lithium sector.
Original Source: news.az
