Russia Takes Part in Lithium Extraction Project in Bolivia

On Wednesday, Karla Calderon, the president of the state-owned company Bolivian Lithium Deposits (YLB), announced a two-year agreement with the Russian company Uranium One Group to establish a plant for lithium extraction.

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"Let's continue advancing steadily, convinced that the industrialization of lithium is the path forward for the benefit of all," said Bolivian President Luis Arce during the launch event of this partnership in the city of La Paz.

The Russo-Bolivian project will be implemented in three phases: the first phase will produce 1,000 tons annually, the second phase will reach up to 8,000 tons, and in the third phase, an additional 5,000 tons will be added, totaling 14,000 tons of lithium carbonate production.

Minister Molina emphasized that it is a phased project with an initial investment of US$100 million and an expansion of US$200 million.

He also previously reported that YLB will inaugurate an industrial plant in the coming days with the capacity to produce 15,000 metric tons of lithium carbonate annually.

"I want to share good news for the country regarding the completion of the civil, mechanical works, and the production testing phase of the lithium carbonate industrial plant," said Molina.

This plant is located in the YLB industrial complex in the Colcha K municipality in Potosi, near the Uyuni salt flat. President Arce will inaugurate this plant on a yet-to-be-determined date.

Its construction began in 2019 and involved an investment of US$94 million. The Arce administration expects the YLB plant to have a production capacity of 20 percent by the end of this month and 100 percent by 2024.