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China expands dominance with $1 billion Bolivian lithium deal. Partnership expands Chinese influence in global battery market and raises alarm over Bolivian sovereignty.
After deals in a Brazilian uranium mine, China has taken another strategic step in the race for control of resources essential for the global energy transition. Last Tuesday (26), Bolivia announced a US$ 1 billion agreement with CBC Investments, a subsidiary of Chinese battery giant CATL, to build two lithium production plants in Salar de Uyuni, the largest reserve of the mineral in the world.
A partnership strengthens China's presence in the “Lithium Triangle”, made up of Bolivia, Chile and Argentina, which holds the largest global reserves of this mineral. With the aim of producing 35 thousand metric tons of lithium carbonate annually, the investment consolidates Bolivia’s dependence on Chinese financing and technology, a growing concern in the local political and economic scene.
“This is a fundamental contract, of utmost importance for the country due to the generation of investments and resources from the export of lithium carbonate,” declared Bolivian President Luis Arce, highlighting the impact of the agreement on the country’s economy.
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Lithium geopolitics: China advances and raises alarm
Bolivia's lithium is essential for lithium-ion batteries used in electric vehicles and other technological devices. China, which already dominates battery manufacturing, is seeking to secure control over the sources of this strategic mineral. As highlighted by The Epoch Times, the Chinese Communist Party (CCP) sees the agreement as more than just an investment: it is an important piece in its plan to expand its influence in the global market and maintain its competitive advantage in the technological and military sectors.
Furthermore, China’s presence in Bolivia’s mining sector reflects a pattern. According to Eduardo Gamarra, an international relations expert at the University of Florida, “China took advantage of the region’s circumstances, managed to penetrate precarious economies that did not have access to conventional credit, promising investments and loans.”
Bolivia already owes around $6 billion to China, increasing its economic dependence. Although the state-owned Yacimientos de Litio Bolivianos (YLB) holds a 51% stake in the project, experts warn of the risks of excessive external influence on the country's sovereignty.
China and Russia: strategic rivalry in Salar de Uyuni
China is not alone in this race. Russia, through its state-owned Rosatom, has also invested in Bolivian lithium, with a $976 million contract for another plant in the Salar de Uyuni, now designed to produce 25 tons of lithium per year. These investments, both Chinese and Russian, cement Bolivia as a key player in the global supply of lithium, but they also raise questions about the real benefit to the local economy.
South America as a focus of Chinese interest
China’s involvement goes beyond Bolivia. In Chile, Argentina and Brazil, the Chinese are already leading similar initiatives, with billions of dollars invested in lithium and other resource extraction projects. These investments are part of a broader effort by Beijing to secure its position as a leader in the global energy transition.
The impact of this expansion is not only economic, but also geopolitical. China’s presence in strategic sectors of South America reinforces its influence in the region and exposes local countries to a new type of dependence.
The future of Bolivia's lithium
With the world’s largest reserves of the mineral, Bolivia is at the center of a global lithium dispute. Chinese investment promises to boost the economy, but at what cost? With concerns over sovereignty and autonomy, the country finds itself in a delicate balance between harnessing its natural wealth and preserving its economic independence.
Meanwhile, China remains steadfast in its mission to consolidate its dominance over the global battery market, ensuring control of the resource that will fuel the planet's energy future.
You guys continue with fake news about China and uranium, what a shame!
Ridiculous this Fake News!
I will comment because I think the publications on the site are interesting. Trading uranium, a strategic mineral, in Brazil violates national sovereignty. Therefore, this review is fake news and discredits your own site. Best regards