Bolivia claims to have the “world’s first lithium reserve” after update

The Government of Luis Arce maintained this Thursday that bolivian has the “first world reserve of lithium” having gone from 21 to 23 million tons verified through a study to quantify these resources.

President Maple presented the results of the quantification carried out in the salt flats of Pastos Grandes, in the Andean region of Potosí, and Coipasa, most of which is located in the Bolivian department of Oruro and a small portion is in Chilean territory.

At an event in the Oruro municipality of Coipasa, Arce recalled that before the exploratory study carried out by the state-owned Yacimientos de Litio Bolivianos (YLB), the country had “21 million quantified tons of lithium”.

“The good news, which will surely have international repercussions because it will consolidate the country as the world’s leading lithium reserve on the planet, is that today we have not 21, we have 23 million tons of lithium in Bolivian territory.”, maintained the president.

To reach this figure, YLB drilled 46 wells in Coipasa and another 20 in Pastos Grandes, Arce specified, adding that Bolivia must manage “intelligently” his position as “number one“of the world in terms of reserves”of this precious element”.

He also announced some investments in Coipasa that will start immediately, such as the construction of a highway and a “high voltage power line” that will feed the direct extraction of lithium (EDL) plant that will be built there by the Chinese consortium CATL BRUNP & CMOC (CBC).

Bolivia signed an agreement with CBC last January that committed an investment of US$ 1.4 billion in the assembly of two EDL plants in Coipasa and in the Uyuni salt flat, in the town of the same name in Potosí, which concentrates most of the Bolivian reserves of the element.

At the end of June, two other agreements were signed with the Chinese firm Citic Guoan and the Russian Uranium One Group for the installation of two EDL complexes in Uyuni and Pastos Grandes, with a total investment of US$1.4 billion with a view to producing at least 45,000 tons of lithium per year.

Arce highlighted that on his recent trip to Brussels he saw the “interest” from some European countries for Bolivian lithium and other “strategic minerals and metals and rare earths” that will begin to be exploited soon.

For his part, the Minister of Hydrocarbons and Energies, Franklin Molina, said that during the second half of the year exploration will continue in five minor salt flats to certify more lithium reserves.

Bolivia already has potassium salt and chloride industrialization plants in operation and a lithium carbonate pilot plant.

In addition, a lithium carbonate industrial plant in Potosí with evaporation technology using pools is in the final phase of construction, in which it is expected to produce some 15,000 tons.

The Bolivian Executive also wants to coordinate with Chile, Argentina and Peru to promote regional development from lithium.

Source: EFE