Chinese battery giant Contemporary Amperex Technology (CATL) is going to invest $1,4 billion in Bolivia’s lithium reserves. As reported by the president Luis Arce following a meeting held last Sunday with the executives of Catl, the agreement commits the Chinese company to build two plants for the extraction of lithium from the salt pans of Uyuni and Oruro, in the south-west of the country.
According to the Bolivian Ministry of Energy, construction of the plants could start as early as next month.
The CATL project is part of a partnership agreement signed on 20 January with the state-owned company Yacimientos del Litio Bolivianos (Ylb), which ensures the development rights for the two plants to the Chinese conglomerate. Each is expected to produce up to 25 tonnes of lithium carbonate for batteries annually.