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The billion-dollar project will make Bolivia the largest lithium producer in the world
The government of Bolivia, led by Luis Arce, finally chose the Chinese consortium led by Contemporary Amperex Technology (CATL), with CMOC Group and Guangdong Bangpu Cycle Technology, also from China. The analysis took about a year and the choice was made among at least 20 competitors, where the winner left with the possibility of exploring lithium in Bolivia, which is the element
essential for the production of electric car batteries.
The consortium agreement led by CATL was made with the Bolivian state company Yacimientos
de Litio Bolivianos (YLB), translated as Depósitos de Litio Boliviano. The state-owned
approval of a project that will require 1 billion dollars and will transform Bolivia
in the world's largest lithium producer.
Where does the billion invested in lithium exploration go?
The destination of the investments guaranteed by the US$ 1 billion contract is the road construction, base and infrastructure installation, and power supply. Thus, Bolivia will be able to have the richest known lithium deposits in the world, with 21 million tons, and take advantage of them.
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In 2019, the government of Bolivia revoked the partnership with the German company ACI Systems, and dispute for lithium exploration contract. The project had been launched just a year ago, and guarantees the exploration of Salar de Uyuni, the largest salt desert in the world, with the largest lithium reserve on the planet.
Despite Bolivia having the largest lithium reserves in the world, the country has few local means to develop them. The signing of a contract in La Paz, with the Bolivian president himself, Luis Arce, provides for the start of commercial operations and export of lithium batteries in the first quarter of 2025.
Giant CATL from China also has a partnership in Brazil
CATL, from China, and the Brazilian company Moura, entered into a partnership in 2020. The company won a dispute in which all the major vehicle manufacturers in the world participated. The partnership will allow the importation of the cells with which Moura assembles its plant in Belo Jardim – electric set that today already equips, for example, the electric trucks of Volkswagen Caminhões, in Resende. The expectation is that soon Moura will be able to assemble in Brazil the sets she receives today from CATL.
