Ningde Times increases investment in Bolivia and has currently reached 10 billion yuan

Ningde Times invests 10 billion yuan in Bolivia

【PhoneAuto News】Recently, PhoneAuto noticed that according to an announcement from Bolivia’s hydrocarbons and energy department, China’s largest power battery company, CATL (Contemporary Amperex Technology), will increase its investment in Bolivia to $1.4 billion (approximately RMB 10 billion) for the construction of two lithium extraction factories using direct lithium extraction technology. The initial investment announced in January was approximately $1 billion, with an additional investment of approximately $400 million.

According to a previous report by Reuters, on January 20, 2023, the Bolivian government officially announced that it would cooperate with a consortium, which would extract lithium resources from two salt lakes in Bolivia. At the same time, the consortium was granted the right to build two lithium salt factories, each with a capacity of approximately 25,000 tons of battery-grade lithium carbonate per year.

It is reported that the consortium that reached a cooperation agreement with the Bolivian government includes not only CATL, the largest power battery company, but also Guangdong Bangpu Recycling Technology Co., Ltd, a subsidiary of CATL, and Luoyang Luanchuan Molybdenum Co., Ltd, a mining giant, among others. Previously, they stated that the first phase of the project will involve an investment of over $1 billion, which will be used to improve infrastructure such as roads and to promote the construction of positive electrode materials and battery factories for lithium-ion batteries.

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According to the latest data from the U.S. Geological Survey, Bolivia’s salt lakes have the world’s largest lithium resource reserves, with reserves of approximately 21 million tons, but the country has almost no commercial development and production of lithium mines. This cooperation with CATL may help to unleash Bolivia’s huge potential as a lithium battery producer.

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