Bolivia's $1.4B lithium deals with Rosatom and Citic Guoan Group to develop world's largest reserves for electric vehicles

Views : 114
Author : topwellpower
Update time : 2023-07-07 10:31:50

On Thursday, the Bolivian government announced that it has signed lithium agreements with Russia's state-owned atomic energy company, Rosatom, and China's Citic Guoan Group, seeking to develop its huge but undeveloped lithium battery metal resources.

The two deals are expected to have a total investment of $1.4 billion. Previously in January, it reached a similar agreement with Chinese battery giant CATL. This is another potential victory for the Chinese government in securing the supply of metals for electric vehicles.

Franklin Molina, Bolivia's hydrocarbons and energy minister, said at an event in La Paz, "Through these deals, our country will be able to produce about 100,000 tons of lithium carbonate in the Uyuni, Coipasa, and Pasto Grandes salt flats by 2025."

According to data from the US Geological Survey, Bolivia's iconic salt flats are the largest lithium resource in the world with reserves of 21 million tons, but the country has long been trying to increase industrial output or develop commercially feasible reserves.

Governments, mining companies, battery markets, and global car manufacturers from Tesla to BMW are all racing to ensure the supply of metals. In the major shift to electric vehicles, many batteries require metals.

Molina said these investments will allow for the construction of two direct lithium extraction (DLE) processing plants in the towns of Pasto Grande and Uyuni Norte, producing at least 45,000 tons of lithium carbonate per year.
Rosatom participated in the bidding through its subsidiary Uranium One Group and confirmed the news, stating that it will invest $600 million in the project. This is the company's first large-scale lithium project overseas, with plans to produce 25,000 tons of lithium carbonate annually.

Kyrill Komarov, First Deputy Director-General of Rosatom, said in a statement, "Based on the results of the geological exploration work, it is possible to increase production capacity."

Molina said Citic Guoan will invest $857 million and will also "consider investing in battery plants, and may conduct technical research, establish a car assembly plant to create a real electric transportation revolution."

He said the deal with Uranium One is for feasibility and pre-investment studies, and added that multiple tests using Russian technology on the salt flats have shown a lithium recovery rate of over 80% and a purity of about 99.5%.

Together with Bolivia, neighboring countries Chile and Argentina form the so-called "lithium triangle," home to the world's largest metal reserves. Chile and Argentina are much more advanced in production, but projects often take years to bear fruit.
Related News
Lithium Polymer Battery: Benefits and Applications Lithium Polymer Battery: Benefits and Applications
Sep .18.2023
With the rapidly increasing demand for compact and lightweight devices, there has been a significant shift towards the use of Lithium Polymer Battery (Li-Po). These rechargeable batteries have quickly become the preferred choice for a wide range of devices including smartphones, tablets, drones and so much more. In this blog, we are going to walk you through some of the benefits of Lithium Polymer Batteries and their applications.
Understanding the Cost of Installing a Tesla Powerwall Battery System for Home Energy Storage Understanding the Cost of Installing a Tesla Powerwall Battery System for Home Energy Storage
Sep .08.2023
Discover the true cost of installing a Tesla Powerwall battery system for your home. From backup power during outages to remote monitoring capabilities, the Powerwall offers impressive features. But what is the actual price? Explore the factors influencing the cost and gain insights into the installation process to make an informed decision.
TOPWELL-lithium polymer battery and 18650 Li-ion Battery products video TOPWELL-lithium polymer battery and 18650 Li-ion Battery products video
Aug .31.2023
Did you know that lithium polymer batteries are rapidly becoming the most popular choice for powering electronic devices due to their high energy density and safety features? If you are looking for a reliable and efficient way to power your device, then a lithium polymer battery might be your best bet. In this article, we will dive into the world of lithium polymer batteries and answer some of the most frequently asked questions such as what they are, how they work, and their benefits.
Advancements in Lithium-Ion Battery Technology Propel Electric Vehicle Industry Forward Advancements in Lithium-Ion Battery Technology Propel Electric Vehicle Industry Forward
Aug .28.2023
Lithium-ion batteries drive the electric vehicle (EV) industry and energy storage. Discover breakthroughs in battery technology, enhancing performance, safety, and sustainability. #BatteryTechnology #EVs #EnergyStorage #Sustainability