Will CBC build a lithium extraction plant in Bolivia?

Bolivia's government and Chinese consortium CBC, which includes battery manufacturer CATL , have signed an agreement for CBC to build two direct lithium extraction plants for at least $1 billion, government authorities said on Tuesday.

Does Bolivia have a lithium deal with China?

This article was produced by AFP. For more information go to AFP.com. Bolivia said Tuesday it had signed a $1 billion deal with China's CBC, a subsidiary of the world's largest lithium battery producer CATL, to build two lithium carbonate production plants in the country's southwest.

Where are Bolivia's lithium plants located?

Bolivia's state-owned Bolivia Lithium Deposits (YLB) said the plants -- one with an annual capacity of 10,000 tons of lithium carbonate and the other of 25,000 - would be situated in the vast Uyuni salt flats. Lithium, nicknamed "white gold," is a key component in the production of batteries for electric vehicles and mobile phones.

Who is developing Bolivia's lithium reserves?

LA PAZ -Bolivia has chosen a consortium including Chinese battery giant CATL to help develop the South American country’s huge, but largely untapped, reserves of lithium after a lengthy bidding process involving firms from the United States and Russia.

Does Bolivia have the world's largest lithium deposits?

Bolivia claims to have the world's largest lithium deposits. President Luis Arce, who presided over Tuesday's signing ceremony, said it paved the way for Bolivia to become "a very important player in determining the international price of lithium."

What is the price of lithium in Bolivia?

The price of battery-grade lithium reached close to $85,000 a tonne toward the end of 2022. Energy minister Franklin Molina said the move showed there were “sovereign alternatives to the privatization models of lithium exploitation.” Bolivia state firm YLB is set supervise and take a central role in the project.