CATL invests $1.4 billion in Bolivia for developing lithium resources - PingWest

CATL invests $1.4 billion in Bolivia for developing lithium resources

CATL invests $1.4 billion in Bolivia for developing lithium resources

June 21, 2023 2:40 am

CATL, the Chinese battery giant, announced on Sunday a $1.4 billion investment to support the development of Bolivia's extensive, yet largely untapped, lithium reserves, Reuters reported.

Following a meeting with CATL executives on Sunday, Bolivian President Luis Arce confirmed the commitment to build two lithium plants to extract minerals from the country's Uyuni and Oruro salt flats.

The President also highlighted the potential for further expansion by stating that they would evaluate the possibility of increasing investments until 2028.

This recent announcement builds upon a partnership agreement signed on January 20, which involved CATL's investment of over $1 billion in the first stage of the project. In exchange for this investment, CATL gained the rights to develop the two lithium plants. 

These facilities have the capacity to produce up to 25,000 metric tons of battery-grade lithium carbonate per year.

According to the country's energy ministry, construction on both plants may commence as early as July. The overall investment throughout the project's industrial process is estimated to reach approximately $9.9 billion.

According to the US Geological Survey, Bolivia has 21 million tons of lithium resources, ranking first in the world, but large-scale production of lithium carbonate has not yet been realized. 

SHARE