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Bolivia Signs $1 Billion Lithium Deal with China's CBC Using Direct Extraction Method

Nov 26, 2024, 08:22 PM

Bolivia has signed a $1 billion agreement with China's CBC Investment Limited, a subsidiary of CATL, the world's largest lithium battery producer, to construct two lithium carbonate production plants in the southwest region of the country, specifically in the Salar de Uyuni. The deal involves Yacimientos de Litio Boliviano (YLB), Bolivia's state-owned lithium company, and includes the use of a direct extraction method. This marks a significant step in the development of the country's lithium resources, which are critical for electric vehicle batteries. The project underscores China's growing role in global lithium production and Bolivia's efforts to leverage its vast lithium reserves.