January 20, 2023, 3:00 PM
January 20, 2023, 3:00 PM
Bolivian Lithium Deposits (YLB) finally chose the partner that will accompany it in the exploitation and industrialization of the Uyuni (Potosí) and Coipasa (Oruro) salt flats. The Chinese consortium Catl Brunp & CMOCsigned the agreement with the Bolivian government to use technology of Direct Extraction of Lithium (EDL) and guide the process of transformation and commercialization of lithium.
The document was signed by the president of Yacimientos del Litio Bolivianos (YLB), Carlos Ramos, and the CBC representative, Qinghua Zhou, in a public act held at the Casa Grande del Pueblo. President Luis Arce and the head of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Armin Dorgathen, accompanied the signing of the agreement.
“The CBC consortium that will invest in Bolivia is made up of three companies. CATL with a 66% stake and BRUNP & CMOC 34%,” said Hydrocarbons and Energy Minister Franklin Molina.
The new Bolivian partner will invest some $1,000 million in the first phase of the project. Arce reported. The binational company estimates to export lithium batteries during the first quarter of 2025.
CATLthe company with the greatest weight in the consortium, is the world leading company in technological innovation of new energies. For the past six years, it has led the production of lithium-ion batteries. In November 2022, it registered an all-time record in market share with 40.9% of the same. The distribution of these batteries reaches customers like Tesla, BMW, Mercedes-Benz, Volkswagen, General Motors, Hyundai and others world renowned car manufacturers.
CATL’s strategic ally for the exploitation of lithium and its subsequent industrialization will be COMC, a Chinese mining group with global representation.
The agreement is signed to achieve mainly the implementation of two industrial complexes. Each will have capacity to produce up to 25,000 tons per year lithium carbonate grade battery, at 99.5% purity. The agreement reached covers the semi-industrialization and industrialization processes in the evaporitic chain, reported the Ministry of Hydrocarbons and Energies.
Arce specified the state YLB will participate in the exploitation, industrialization and “commercialization” phases of batteries which will ensure higher income for the country. “This process of selecting companies continues,” said the head of state.
CBC participated in the piloting process along with seven other companies and met the requirements set by YLB. Aspects such as experience and technology applicable to the characteristics of the brines, a recovery of lithium from the brines of at least 80% and less use of water, among other factors, were considered.
The other companies that were part of the selection are the Chinese Citic Guoan/Crig, Fusion Enertech and Xinjang Tbea Group, the Russian Uranium One Group and the American Lilac Solutions.
The cooperation between YLB and the CATL-CMOC Consortium is based on a mutually beneficial complementary relationship. The experience provided by the Chinese giant will make it easier for YLB to develop high-quality Bolivian lithium resources.
Among the scope of the agreement is considered assistance in the establishment of a system of training of talent in the industrialization of lithium.
For Bolivia, the investment and future continued operation of this project significantly stimulate their economic growth, they will increase tax revenues, create jobs and promote industrial modernization.
