Chinese Battery Giant CATL to Invest $9.9B in Bolivia's Lithium Reserves
Chinese battery giant CATL is set to invest around $9.9 billion to develop Bolivia's vast lithium reserves. The project, involving the construction of two plants, could commence as early as July, marking a significant step in Bolivia's efforts to tap into its substantial but largely untouched lithium resources.
Bolivia, with estimated lithium reserves of 21 million metric tons, has almost no industrial production or commercially viable reserves. However, this is set to change with CATL's investment. The company, which does not currently produce lithium but has invested in several Chinese projects, will build the plants on the Uyuni and Oruro salt flats. Bolivian President Luis Arce confirmed the commitment to this partnership between China and Bolivia.
CATL's initial investment of $1.4 billion will kickstart the development of these lithium deposits. The project is expected to bring significant economic benefits to Bolivia, helping the country harness its abundant resources.
With CATL's substantial investment and Bolivia's vast lithium reserves, the stage is set for a transformative project. The construction of the two plants could begin as early as July, marking a significant step in Bolivia's industrial development and solidifying CATL's position as a major player in the global lithium market.
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