Bolivia will cooperate with Chinese and Russian enterprises to develop its lithium resources

On June 29, it was reported that the Bolivian government said on the 29th that it had signed a resource development agreement with Rosatom, the Russian state nuclear power company, and CITIC Guoan Group of China, hoping to develop its huge but largely undeveloped lithium resources.

These transactions are expected to have a total investment of $1.4 billion. In January, the country reached a similar agreement with the Chinese battery giant CATL, which is another victory for Beijing in locking up the mineral supply of electric vehicle batteries.

Mollina, the Minister of Hydrocarbons and Energy of the country, said at an event: "Through these transactions, our country will be able to produce about 100000 tons of Lithium carbonate in the salt flats of Uyuni, Koipasa and Pasto Grandes in 2025." According to the data of the United States Geological Survey, Bolivia's landmark salt flats have the world's largest lithium resources, with reserves of 21 million tons, However, the country has been facing difficulties in commercial development of lithium mines for a long time.

Mollina said that these investments will allow the construction of two direct lithium extraction (DLE) processing plants in Pastogrand and North Uyuni Town, producing at least 45000 tons of Lithium carbonate annually. Rosatom, a Russian company bidding through its subsidiary Uranium One, confirmed this news, saying that it would invest 600 million dollars in this project, which is its first large-scale lithium project overseas, with a planned annual capacity of 25000 tons of Lithium carbonate. Mollina said that CITIC Guoan would invest $857 million and would "consider investing in battery plants and automobile assembly plants to create a real electric transportation revolution".