LatinNews Daily - 07 July 2025

*The president of Bolivia’s lower chamber of congress, Omar Yujra, has announced an indefinite pause to a debate on a lithium contract signed between state lithium company Yacimientos de Litio Bolivianos (YLB) and the Chinese consortium CBC. The contract, signed in November 2024, would see CBC invest US$1.03bn in two lithium production plants with a combined annual capacity of 35,000 tonnes, but first requires congressional approval. It has faced resistance from the conservative opposition and the faction of the ruling left-wing Movimiento al Socialismo (MAS) that is loyal to former president Evo Morales (2006-2019), who argue that the contract contains irregularities and is being rushed through in the final months of President Luis Arce’s term. Hydrocarbons & Energy Minister Alejandro Gallardo said on 5 July that if Bolivia does not act quickly it risks missing out on the chance to capitalise on its massive lithium reserves. “It’s estimated that [lithium] prices will reach their peak between 2031 and 2032,” he said, adding that “by then we need to have the plants in operation, and between the design, construction and launch phases that will take six years; if we don’t start now, we could miss this window.”

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