The Chinese consortium CBC, including battery giant CATL, and Bolivia, inked a deal on Wednesday, strengthening their collaboration in one of the world’s largest lithium reserves.
As Bolivia aims to enhance its role in the battery production chain with China, President Luiz Arce mentioned that Bolivia could launch a new international tender this month. Arce emphasized the country’s desire to participate in the entire production chain, not just in mining.
This recent agreement builds upon a prior deal made with Bolivia’s state-owned lithium company in January 2023. In that agreement, CBC committed to investing over $1 billion to initiate the processing of Bolivian lithium, involving the installation of two industrial direct lithium extraction (DLE) plants.
The new agreement entails an additional investment of $90 million and expands CBC’s involvement in Bolivia’s growing lithium industry. Bolivia is home to the Uyuni salt flat, boasting one of the largest lithium reserves globally.
Karla Calderon, President of YLB, stated at the government palace in La Paz that the agreements include the development of a pilot plant with an initial production capacity of 2,500 metric tons per year. There are plans for a future industrial plant with a capacity of 25,000 metric tons per year, although no specific date for the expansion was provided.
CBC representative Qinghua Zhou highlighted the strategic significance of the pilot, stating that CBC would leverage its advanced technology and expertise to conduct pilot tests, positioning Bolivia as a vital global hub in the lithium battery industry chain.
Bolivia has also signed agreements with two other Chinese companies, CBC and Citic Guoan, along with a Russian company, Uranium One Group, to construct industrial facilities for lithium carbonate production. Additionally, an agreement has been inked with India’s Altmin to collaborate on the development of cathode materials technology for lithium batteries.
