What's going on with Bolivia's largely untapped lithium reserves?

Sources In a significant move towards the development of Bolivia's largely untapped lithium reserves, Chinese battery giant CATL has confirmed a $1.4 billion investment. The deal, which was cemented on Sunday, is a continuation of a partnership with the Bolivian government that was established in January.

Is lithium a good investment for Bolivia?

Lithium is a mineral that is mainly used for the manufacture of batteries due to its high capacity to store energy. Credit: Kanijoman, CC BY 2.0 / Flickr. The Bolivian president said that the new contract would be “very beneficial” for the country, including because it will generate new jobs.

How much does Uranium One cost to build a lithium plant?

A $970 million contract signed with Uranium One in September calls for construction of a plant with a capacity of 14,000 tons a year. Another contract, signed in November with China’s Catl Brunp and CMOC, involves a $1 billion plan to build two lithium plants that would churn out 35,000 tons a year.

When will lithium batteries be exported?

Mr Arce 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.

What is lithium used for?

Lithium is a silvery-colored, soft-textured alkali metal known as the lightest of the metals. Its relative abundance in the earth’s crust and its unique properties make it a key resource. While it has a range of applications, Lithium’s main utility lies in its ability to store and release energy efficiently.