top of page
  • By The Financial District

Chinese Firm To Develop Bolivian Lithium Deposit

A giant Chinese battery company, CATL, has won a bidding process to develop Bolivia's huge lithium reserves, BBC News reported.

Photo Insert: CATL is a global leader of new energy innovative technologies, committed to providing premier solutions and services for new energy applications worldwide.

The ultra-light metal is used in electric vehicle (EV) batteries, production of which is expected to soar as fossil fuels are phased out.

Bolivian President Luis Arce said the CATL-led consortium was launching the "historic" industrialization of lithium in Bolivia. More than $1 billion (£807 million) will be invested in the project's first phase, he said.

Australia and Chile are the world's biggest lithium producers, but Bolivia has huge reserves in the Potosi and Oruro salt flats.

Technical hurdles and a lack of infrastructure have long delayed the extraction of lithium in Bolivia, whose reserves are estimated at 21 million tons. Arce said Bolivia was still negotiating with other foreign companies for potential partnerships.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Reuters news agency says they include US firm Lilac Solutions, Russia's Uranium One Group and three other Chinese bidders. He said the goal was to start exporting lithium batteries in the first quarter of 2025.

Argentina, Bolivia and Chile share an expanse of salt flats, or salars, called the "lithium triangle," holding more than 75% of the world's lithium deposits.

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

Brine is pumped from beneath the salt flats into vast evaporation pools, a process that leaves behind lithium carbonate. But the technical challenges of lithium mining have raised concerns about pollution and commercial viability in South America and other parts of the world.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic

Optimize asset flow management and real-time inventory visibility with RFID tracking devices and custom cloud solutions.
Sweetmat disinfection mat

bottom of page