LA PAZ, Bolivia - In a significant development for Bolivia's lithium industry, President Luis Arce announced on November 10, during the 214th anniversary of PotosÃ's liberation, that the country will sign a second lithium industrialization contract with China.
LA PAZ, Bolivia - In a significant development for Bolivia's lithium industry, President Luis Arce announced on November 10, during the 214th anniversary of Potosí's liberation, that the country will sign a second lithium industrialization contract with China.
Speaking at the event, President Arce stated, "We plan to sign the second contract next week with a Chinese company, which will be submitted to the Plurinational Legislative Assembly."
The Bolivian government's foray into lithium development has been an ongoing process. Earlier this year, in September, the country's state lithium company signed a contract with Russia's Uranium One Group. This agreement aimed at achieving an annual production of 14,000 tons of lithium carbonate, utilizing the direct extraction technology from the renowned Uyuni salt flat in Potosí.
Back in 2022, the Bolivian government initiated the process of signing agreements with foreign companies through its state lithium company. The objective was to establish pilot plants that would utilize the direct extraction technology on its vast salt flats.
To date, this enterprise has already entered into agreements with several prominent players. It has signed deals with China's CITIC Guoan, Russia's Uranium One Group, and China United Mining Corporation to set up lithium carbonate production facilities at the Uyuni salt flat and the Salar de Pastos Grandes.
As Bolivia looks to further develop its rich lithium resources, the impending signing of the new contract with China is being closely watched by industry observers and investors alike. The move could potentially have a significant impact on the global lithium market, given Bolivia's substantial lithium reserves and China's growing role in the lithium supply chain.
This new contract is expected to bring fresh opportunities for both Bolivia's economic development and China's investment in the lithium sector, while also shaping the future of lithium industrialization in the South American nation.
The details of the upcoming contract with the Chinese company remain to be seen, but it is clear that Bolivia is firmly committed to leveraging its lithium wealth through international partnerships.