(Energy Analytics Institute, 24.Mar.2021) — Bolivia resumed negotiations with Germany for the industrialization of the South American country’s lithium reserves. Bolivia is also open to the possibility of the participation of other countries that offer better work and technology, according to reports 24 March 2021 in the daily newspaper La Razón.
In December 2018, a joint venture company between Yacimientos de Litio Bolivianos (YLB) and the German company ACISA was established for the industrialization of Bolivia’s lithium. Joint efforts included the industrial production of lithium hydroxide and magnesium hydroxide from residual brine from the Salar de Uyuni and the later commercialization of products in national and international markets.
The investment amounted to approximately $300mn (51% YLB Corporación and 49% ACISA). However, a total investment of $1.3bn was expected. Yearly gross income from the project was expected to reach $2.2bn while between 500 and 1,000 direct jobs were expected to be created in Bolivia and up to 10,000 additional indirect jobs in the areas of transportation, logistics and services.
By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.