European investors visit Bolivia to evaluate business opportunities in lithium

The Government of Bolivia announced this Monday the arrival of representatives of a dozen European companies from different segments of the production chain of the lithiumwhich will evaluate this week the business opportunities in the development of that industry in the country.

Companies seek to establish “strategic connections” and “collaborations” for the joint development of this area, said the Ministry of Hydrocarbons and Energy in a press release.

The institution considered that the presence of European firms in the country shows the “potential” Bolivian for the expansion of the lithium industry.

The arrival of investors is supported by Team Europe, an initiative of the European Union (EU) to identify key priorities for development in a given country or region and where the bloc’s coordinated effort could guarantee results with transformative impacts.

Team Europe is made up of the EU, its Member States, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

The visit was coordinated with the Bolivian Government within a “joint commitment to promote business development in the lithium sector”, highlighted the ministry.

The objective is “ease“private investments”that incorporate cutting-edge technologies“, with “high quality standards both in the social and environmental fields, in a framework of cooperation and commercial”.

The businessmen plan to visit the facilities operated by the state-owned Yacimientos del Litio Boliviano (YLB), including the plant complex in the municipality of Colcha K, in the Andean region of Potosí, and the Technological Research Center in La Palca, in the same department.

They will also be in the Uyuni salt flats, in Potosí, and Coipasa and Empexa, in the Andean region of Oruro.

According to the Bolivian Government, the route will allow investors to “gain a detailed understanding of the operations and technologies used in lithium processing” in Bolivia.

Last July, the Government of Luis Arce announced that Bolivia has the world’s first reserve of lithium having gone from 21 to 23 million tons verified through a study carried out by YLB to quantify these resources.

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

An industrial lithium carbonate plant in Potosí with pool evaporation technology is also in the final phase of construction, which is expected to produce around 15,000 tons.

This year, the Bolivian Government signed agreements with two Chinese companies and one Russian that will apply their direct lithium extraction (EDL) technologies in the country, with an investment commitment of more than US$2.8 billion.