China and Russia seek lithium exploitation opportunities in Bolivia

Photo: 03-Salar de Uyuni-nX-3. By: PsamatheM. Source: Wikicommons.

The state-owned company “Yacimientos de Litio Bolivianos” (YLB) has signed an agreement worth 1.435 billion dollars with the Chinese giant Citic Guoan and Russia’s Uranium One Group. They aim to produce and export approximately 50,000 tons of lithium per year starting from 2025. Earlier this year, Bolivia had already signed an agreement with the Chinese company Contemporary Amperex Technology for 1.400 billion dollars to establish a production plant located in the Uyuni Salt Flats.

Luis Arce, the President of Bolivia, has expressed full support for these projects, stating that they represent the projection of the Andean country into a world that is accelerating its demand for lithium, emphasizing the great importance of Bolivia’s reserves of this metal. Lithium is playing an important role as a resource for the energy transition towards cleaner energies.

Top headline:

Vargas, L. D. A.  El Tiempo.  (2023, junio 30). China y Rusia se lanzan a explotar litio en Bolivia.

Find out more:

fundacionandresbello.org. Tensión geopolítica: Bolivia busca industrializar el litio con el respaldo de China ante las preocupaciones de Estados Unidos