Bolivia plans to sign a contract for lithium industrialization
Bolivia is heading towards a significant milestone in the industrialization of lithium, one of its most valuable natural resources, with the projection of signing a key contract with a Chinese company in the coming days. This was stated by the Deputy Minister of Government Coordination and Management, Gustavo Torrico, who highlighted the progress of the negotiations that could culminate in the signing of the contract in question during this or the next week.
This significant step comes in the context of agreements previously established with two Chinese companies and one Russian. Torrico emphasized that these agreements have not required legislative approval, thus refuting the claims of opposition deputy Carlos Alarcón, who argued that such agreements should be referred to the Legislature.
“A contract may be signed this week or next with the Chinese company, and then with the other, because all the issues have been addressed, the investment of more than $10 million in studies, which is borne by the companies, the State does not contribute anything, neither YLB nor anyone,” stated Torrico, highlighting the financial support from the companies involved in the necessary studies for the industrialization of lithium.
These agreements, signed with the Citic Guoan Corporation and the Uranium One Group, represent an investment of $2.8 billion in the lithium industrialization process, which will be carried out using Direct Lithium Extraction technology.
Bolivia, which hosts vast lithium reserves estimated at 23 million tons in regions such as Uyuni, Coipasa, and Pastos Grandes, positions itself as a significant player in the global market for this strategic mineral.
In response to criticism and questioning from Deputy Alarcón, the Government clarified the scope of these agreements through official communication, stating that they did not require legislative approval as they are preliminary pacts paving the way for more solid agreements in the future.
“The Assembly authorizes the signing of contracts, not agreements, which are a pact between parties, a previous agreement to progress towards legal consolidation later,” explained Torrico, emphasizing the distinction between these terms and reaffirming the Government’s commitment to transparency and sustainable development in the lithium industrialization process.
In this context, the debate about the role of the Legislature in the ratification of commercial agreements and the need to ensure citizen participation in the management of strategic natural resources such as lithium continues to be a topic of discussion in Bolivia. However, the progress towards the signing of this contract with the Chinese company represents a significant step in the materialization of lithium industrialization plans in the country, aiming to consolidate its position in the international mineral market.
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