Bolivia and Chinese Consortium agree to increase investment to millions of dollars for lithium projects

Photo: Litio. By: Kanijoman. Source: Flickr.

According to information from the Ministry of Hydrocarbons and Energy of Bolivia, the Chinese consortium Catl Brunp & CMOC (CBC) has increased its investment commitment to $1.4 billion for the construction of two lithium production plants in the Uyuni and Coipasa salt flats. This investment marks a milestone in Bolivia’s energy history and solidifies the country as a reference in lithium industrialization. President Luis Arce and Minister Franklin Molina met with Yu Bo, Executive Director of Catl’s Investment Committee, to discuss the progress of the projects. During the meeting, it was agreed to increase the estimated production to 200,000 tons per year and raise the total investment to $9.92 billion.

The CBC consortium, in which Catl holds a 66% stake, will be the strategic partner for the exploitation and industrialization of lithium in Bolivia. Catl is the world’s largest producer of lithium-ion batteries and has extensive experience in the sector. The company’s main customers in the electromobility industry include brands such as Porsche, Tesla, BMW, Volkswagen, General Motors, Hyundai, Mercedes Benz, and Ford.

The Ministry of Hydrocarbons highlighted that Catl has the necessary technology to develop the project with lower water consumption. Additionally, the company is committed to preserving the tourism potential of the Uyuni Salt Flats and plans to design the plant in a way that does not impact the landscape and has minimal visible infrastructure. With this investment and the industrialization of lithium, Bolivia aims to leverage its natural resources and become a significant player in global lithium battery production, thus contributing to the energy transition and promoting the country’s sovereignty in the sector.

Top headline:

Vasquez, W. El Deber. (2023, 19 de junio). China CBC Sube Oferta de Inversi贸n de $US 1.000 millones a 1.400 millones en la Primera fase industrial del litio.