Bolivia seals $1.4 bln lithium deals with Russia’s Rosatom, China’s Guoan

bolivia-seals-$1.4-bln-lithium-deals-with-russia’s-rosatom,-china’s-guoan
Bolivia seals $1.4 bln lithium deals with Russia’s Rosatom, China’s Guoan

Bolivia has signed agreements with Russian state nuclear firm Rosatom and China’s Citic Guoan Group to develop its lithium resources. The deals, worth $1.4 billion, follow a previous agreement with Chinese battery maker CATL. The Minister of Hydrocarbons and Energy, Franklin Molina, stated that these agreements will enable Bolivia to produce 100,000 metric tons of lithium carbonate by 2025. Despite having the world’s largest lithium resources, Bolivia has struggled to increase industrial production. The global demand for lithium, used in electric vehicle batteries, has prompted governments, mining firms, and carmakers to secure its supply. The investments will lead to the construction of two lithium extraction processing plants, with an annual production capacity of 45,000 tons. Rosatom confirmed its $600 million investment, while Citic Guoan will invest $857 million and explore opportunities in battery and vehicle assembly plants. The deal with Rosatom is for feasibility and pre-investment studies, with promising results from tests conducted on the salt flats. Bolivia is part of the “lithium triangle” along with Chile and Argentina, where the largest lithium reserves are located. Chile and Argentina are more advanced in production.

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