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Chinese consortium CBC has signed an agreement with the Bolivian government to mine lithium. Under the agreement with Bolivia, CBC will build two plants for the direct extraction of lithium, investing at least $1 billion.
The Bolivian government will own 51% of CBC’s lithium mining facilities. The project will be located in the salt flats of Uyuni in southwestern Bolivia. The Uyuni Salt Flats are part of the Lithium Triangle shared by Bolivia, Chile and Argentina.
According to Omar Alarconhead of state-owned lithium company YLB, the Chinese consortium estimates its two mining plans will produce 35,000 metric tons of lithium per year.
“This service contract will develop a final project for the design, construction, operation and maintenance of a plant that will produce 10,000 tons of lithium carbonate per year and another plant that will produce 25,000 tons of lithium carbonate per year,” Alarcon said during press conference.
Alarcon added that CBC’s lithium extraction plants will be based on his technology. The Chinese consortium will build “at its own cost and risk.” An investment of $1 billion is the initial cost of CBC construction.
Battery supplier CATL is reportedly part of the CBC consortium. Bolivia’s lithium mining facilities will give Chinese electric vehicle suppliers such as CATL an edge in the North American market. However, China’s future in the North American supply chain is uncertain. President-elect Trump is considering tougher regulations on products from China or Chinese companies. CATL still hopes Trump will do it to approve its expansion into the US.
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