LA PAZ : Bolivia has signed lithium agreements with Russian state nuclear firm Rosatom and China's Citic Guoan Group, the South American country's government said on Thursday, as it looks to develop its huge but largely untapped resources of the battery metal.The deals, which envisage total investment of
LA PAZ : Bolivia has signed lithium agreements with Russian state nuclear firm Rosatom and China's Citic Guoan Group, the South American country's government said on Thursday, as it looks to develop its huge but largely untapped resources of the battery metal.
"With these deals our country will be able to produce some 100,000 tons of lithium carbonate in 2025 in the Uyuni, Coipasa and Pasto Grandes salt flats," Minister of Hydrocarbons and Energy Franklin Molina said at an event in La Paz. Governments, mining firms, battery markets and carmakers worldwide from Tesla to BMW are scrambling to secure supply of the metal, which is key for the batteries needed to power a major shift towards electric vehicles.
Russia's Rosatom, which bid via its Uranium One Group unit, confirmed the news, saying it would invest $600 million in the project, its first large-scale lithium venture overseas, with planned annual capacity of 25,000 tons of lithium carbonate.
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