Bolivia calls for perfecting the commercialization of lithium resources

Introduction: Bolivia, as the country with the largest mineral deposits in the world, is preparing for the second attempt to activate the lithium industry: YLB and ACISystems of Germany established a joint venture company in October 2019 to mine lithium in Bolivia, and Bolivia launched an appeal for its huge lithium Resources seek potential investors. According to a statement released last week by the Ministry of Hydrocarbons and Energy and the state-owned Yacimientos de Litio Bolivianos (YLB), Bolivia has announced plans to resume lithium mining. The Bolivian government stated that this call is for companies that have direct lithium extraction technology (EDL) and can conduct pilot tests in the Great Salt Flats of Uyuni, Copaça and Pastos. International companies such as Russia’s Uranium1G, my country’s GangfengLithium and TBEA, and the United States’ EnergyX have recently participated in online meetings held by YLB and the Ministry with potential investors. The experts participating in the meeting outlined the characteristics of EDL technology. The Minister of Hydrocarbons and Energy Franklin Molina (Franklin Molina) said: 'EDL technology is a step towards innovation and will provide important opportunities for technology and technological advancement. This is what we are introducing here today.' This is the second attempt to mine lithium in Bolivia: YLB and Germany's ACI Systems agreed in October 2019 to establish a joint venture to mine lithium in Bolivia. About 1.2 billion U.S. dollars will be invested in a high-tech complex in Uyuni Yantian. The important product is lithium-ion batteries. According to the terms of their agreement, YLB will acquire a 51% stake in the joint venture. However, only one month later, the government passed a decree to stop the project without giving any explanation. In April 2018, the Bolivian authorities stated that ACI Systems was selected from eight letters of intent received from the government to be responsible for the commercialization of lithium in Bolivia. The agreement will have a period of 70 years. Salarde Uyuni is considered to be the largest lithium deposit in the world. The plan is to produce 30,000 to 40,000 tons of lithium hydroxide annually from 2022, with an investment of 30 to 400 million euros. This will enable hundreds of thousands of electric vehicles to be equipped with lithium-ion batteries.