Bolivia has chosen a consortium including Chinese battery giant CATL to help develop the South American country’s huge, but largely untapped reserves of lithium after a lengthy bidding process involving firms from the United States and Russia.
Bolivia has chosen a consortium including Chinese battery giant CATL to help develop the South American country’s huge, but largely untapped, reserves of lithium after a lengthy bidding process involving firms from the United States and Russia.
The agreement could help finally unlock Bolivia’s huge potential as a supplier of lithium for batteries needed to power the global shift to electric vehicle, although projects to mine the ultralight metal take many years and doubts remain around the direct extraction technology being used. Bolivian President Luis Arce said CBC would invest over $1 billion in the project’s first stage, boosting infrastructure, roads and conditions needed to start up plants the country hopes will one day produce lithium cathodes and batteries.He added that talks were ongoing for potential partnerships with other foreign firms. The companies who have remained in the race include US firm Lilac Solutions, Russia’s Uranium One Group and three other Chinese bidders.
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