Bolivia has signed a $1 billion deal with China’s CBC to construct two lithium carbonate plants in Uyuni, enhancing its role in the lithium market. President Luis Arce signifies the importance of this deal for Bolivia’s position in determining international lithium prices.
Bolivia has entered into a significant agreement with China, signing a contract worth $1 billion with CBC, a subsidiary of CATL, the world’s leading lithium battery manufacturer. The deal aims to establish two lithium carbonate production plants in the Uyuni salt flats, with capacities of 10,000 and 25,000 tons annually, respectively. This initiative positions Bolivia, a nation boasting substantial lithium reserves, to enhance its influence over global lithium pricing.
Lithium has emerged as a critical component in the production of batteries used in electric vehicles and mobile devices, often referred to as “white gold”. Bolivia claims to possess the largest lithium reserves globally, making it an attractive partner for countries seeking to secure lithium supplies amid growing demand for renewable energy solutions. The recent agreement follows a prior arrangement with Uranium One Group to build an extraction facility, indicating robust interest in Bolivia’s lithium potential.
In conclusion, the recently signed $1 billion agreement between Bolivia and China’s CBC marks a pivotal step for Bolivia in the global lithium market, positioning it to become a significant player in lithium production and pricing. This partnership, along with ongoing negotiations for additional contracts, underscores the country’s potential as a key supplier in the rapidly expanding electric vehicle and battery sectors.
Original Source: www.france24.com
