Key minerals in South America: Right-wing president takes office, Bolivian senators to study lithium contracts with Russia and China to improve contract terms
Sputnik News, Santa Cruz (Bolivia), February 6 - According to Nicandro Cochi Condori, chairman of the Foreign Policy Committee of the Bolivian Senate, the committee will review lithium contracts signed with Russia and China, aiming to improve rather than cancel the contracts, Sputnik News reported.
Condori, a senator representing the ruling party, stated, "We have requested the contract texts to study them together with technical experts and consultants. Afterwards, we need to explain these contracts to the public. Our goal is to improve the contract terms, not to cancel the contracts. Therefore, we need to carefully review the specific terms of the contracts."
Bolivian Economy Minister Jose Gabriel Espinosa previously told Sputnik News that the government would review lithium agreements signed with Russia and China to ensure they comply with all regulations and new legislation.
On September 11, 2024, the Bolivian government signed a contract with the subsidiary of the Russian state nuclear energy corporation Rosatom, Uranium One Group, to invest 970 million dollars to build a lithium carbonate plant with an annual capacity of 14,000 tons for battery use. Two weeks later, it signed an agreement with the Hong Kong CBC Company to build two lithium carbonate production plants of the same scale.
Bolivia has 23 million tons of lithium reserves, together with Argentina (19 million tons) and Chile (9 million tons), forming the "Lithium Triangle," which accounts for more than 50% of the world's lithium metal reserves.
Original article: toutiao.com/article/1856332302517248/
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