Bolivia’s President disclosed that the country’s lithium resources now stand at an estimated 23 million metric tons, strengthening its position as the foremost global leader in lithium reserves.
The updated figure resulted from the exploration of over 66 wells in the Coipasa and Pastos Grandes salt flats, surpassing the previous estimate of 21 million metric tons.
President Luis Arce informed the media about ongoing discussions with European Union representatives regarding potential investments in lithium projects. He emphasized the growing interest in Bolivia’s abundant reserves of lithium and other strategic minerals during a recent summit with EU officials in Brussels. Additionally, the country also extracts metals like silver, zinc, lead, and tin.
Historically, Bolivia has sought investments from Russian and Chinese companies to develop its substantial yet largely untapped lithium reserves. The first half of the current year witnessed three significant lithium deals with two Chinese and one Russian firm committing a total investment of $2.8 billion to industrialize Bolivia’s lithium resources.
The value of lithium, a crucial component for electric vehicle batteries, has witnessed a remarkable surge in recent years as automakers transition away from combustion engine vehicles to comply with stringent climate change regulations.
The South American “lithium triangle,” which comprises more than half of the world’s lithium resources according to the U.S. Geological Survey (USGS), showcases Bolivia’s exceptional reserves exceeding those of its neighboring countries Argentina and Chile, with estimates of 20 million metric tons and 11 million metric tons, respectively.
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