October 4, 2022, 9:28 PM
October 4, 2022, 9:28 PM
The Potosinista Civic Committee (Comcipo), through a bill, proposes a royalty scheme from 11% to 20% for the exploitation of lithium. According to the regulations, both percentages are based on the profitability criteria of the metal business and the average prices in the world market.
“It is proposed as a floor of 11% when the price of lithium carbonate equivalent is less than US$10,000 per ton and a 20% ceiling for prices above US$20,000 per ton,” states the bill sent to the central government and the Plurinational Legislative Assembly.
The economist and advisor to Comcipo, Juan Carlos Zuleta, said that still no response from government and legislative authorities on the bill that was prepared with input from a group of professionals.
However, he indicated that the Government has indicated that it could advance in its negotiations with the six qualified companies in the call for direct extraction of lithium, without the need to change the current legal framework for lithium.
“This would be a new violation of Law 928 for the creation of Bolivian Lithium Deposits (YLB), which clearly establishes that the first two phases of basic chemical development (extraction and processing of this metal and other evaporite resources they have 100% state participation,” commented.
The Comcipo Law project also proposes the creation of the Ministry of Evaporitic Resources which should be the body in charge of directing the policy and comprehensive and diversified development.
Article 17 establishes the formation of a directory of Bolivian Lithium Deposits (YLB) with the participation of three representatives of the central government, two representatives of the department of Potosí and one representative of the department of Oruro.
Added to this is the creation of the National Council for Lithium and Evaporative Resources, as an independent and consulting entity within the framework of national policy, made up of representatives of the departments with the highest production.
The bill contains 25 articles in total to deal with the challenges of the coming years in this new strategic sector of the Bolivian economy.
