Bolivia’s YLB lithium production company signed a deal with a consortium to build two direct lithium extraction plants for at least $1 billion.
YLB said on 26 November it will take a 51% stake in the project, to be located in the Uyuni salt flat in south-west Bolivia. It lies within the ‘lithium triangle’ shared with Chile and Argentina in South America.
The idea is the two plants together will produce 35,000 tonnes of lithium a year, said Omar Alarcon, head of state-run YLB.
“This service contract will develop a final design for engineering, construction, operation and maintenance of a plant that will produce 10,000 tonnes of lithium carbonate per year and another plant producing 25,000 tonnes of battery-grade lithium carbonate per year,” he said at a press conference.
The Chinese company Hong Kong CBC Investment consortium includes battery maker CATL. Alarcon said CBC will build plants based on its own technology and risk. The $1 billion will cover initial construction. YLB has exclusive responsibility for commercialisation of the product, it said.
Bolivia holds the world’s biggest lithium resources. The company signed a contract in September with Russia’s Uranium One Group to build a $970 million plant to produce 14,000 tons of lithium carbonate annually.
Both contracts reportedly require legislative consent.
Photo: Lithium carbonate stocks. YLB
