What's going on with Bolivia's largely untapped lithium reserves?

Sources In a significant move towards the development of Bolivia's largely untapped lithium reserves, Chinese battery giant CATL has confirmed a $1.4 billion investment. The deal, which was cemented on Sunday, is a continuation of a partnership with the Bolivian government that was established in January.

Why did CATL invest $1.4 billion in Bolivia?

Chinese battery giant CATL confirmed a $1.4 billion investment to help develop Bolivia's huge but largely untapped reserves of lithium, cementing on Sunday a partnership with the government made in January.

Does Bolivia have a lithium plant?

This follows a deal between Bolivia’s state-run lithium company, Yacimientos del Litio Bolivianos (YLB), and a Chinese consortium. CATL agreed to invest over $1 billion in the project’s first stage for rights to develop the two lithium plants. Despite being a global leader in electric vehicle batteries, CATL does not currently produce any lithium.

Will Bolivia build a lithium plant in the salt flats?

The agreement focuses on Bolivia’s salt flats, known for their vast lithium resources. Bolivian President Luis Arce confirmed the plan to build two lithium plants in the country’s Uyuni and Oruro salt flats after meeting with CATL executives. He announced a $1.4 billion investment and hinted at possible future investments up to 2028.

What is the future of Bolivia's lithium industry?

The extraction and production of lithium have proven complex, leading to less lucrative outcomes for local communities. The Bolivian government seeks to build partnerships with foreign companies to develop technology and boost lithium production. However, progress has been slow, and the future of Bolivia’s lithium industry remains uncertain.

Will Bolivia build two lithium plants in Uyuni & Oruro salt flats?

Bolivian President Luis Arce confirmed the plan to build two lithium plants in the country’s Uyuni and Oruro salt flats after meeting with CATL executives. He announced a $1.4 billion investment and hinted at possible future investments up to 2028. The construction of these plants could start as early as July.