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LatinNews Regional Monitor: Andean Group - 11 June 2018
Bolivia: Will Morales surf the lithium wave?
In April Bolivia’s state owned lithium mining company (Yacimientos Bolivianos de Litio, YBL) announced a major agreement with ACI Systems GmbH of Germany, which is to invest US$1.3bn in a partnership to manufacture and market lithium-ion batteries. Bolivia has some of the largest lithium reserves in the world, and demand for the batteries, which are used in smart phones and the new generation of electric vehicles (EV), is expected to surge. Developing lithium mining in the Salar de Uyuni salt flats is seen by many as part of an ambitious plan by President Evo Morales to turn Bolivia into “the Saudi Arabia of lithium”. Others are more sceptical, and point to a range of practical difficulties that may prevent or limit the new boom.
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