Bolivia has narrowed to 6 from eight the record of competing overseas companies vying to faucet its huge lithium sources, power minister Franklin Molina mentioned on Tuesday, a part of the nation’s most bold effort but to extract the metallic.
Bolivia has the world’s largest sources of lithium, the ultra-light metallic key to creating batteries for electrical automobiles, however has struggled for many years to mine them commercially.
Under left-wing President Luis Arce, Bolivia has sought to companion with overseas companies to jumpstart its mining capability. Last yr, he introduced a shortlist of eight firms from the United States, China, Russia and Argentina that, if chosen, would extract the metallic utilizing an untested expertise often called Direct Lithium Extraction.
In a press convention, Molina didn’t specify which two firms had been disqualified. He mentioned remaining outcomes are anticipated to be introduced on June 15, itself a delay on an preliminary May deadline for the announcement.
Bolivia nonetheless faces an uphill battle https://www.reuters.com/markets/commodities/legendary-lithium-riches-bolivias-salt-flats-may-still-just-be-mirage-2022-05-23 to use its lithium, together with authorized obstacles and a patchy observe file for multinational companies working within the Andean nation.
Under Bolivian legislation, solely state-owed lithium agency Yacimientos de Litio Bolivianos (YLB) is allowed to extract the metallic. The authorities has but to announce how they might sq. that restriction with partnering with overseas companies.
Bolivia has additionally fallen behind neighbors Argentina and Chile, which have constructed substantial lithium operations at a time when costs are skyrocketing. Chile is the world’s No. 2 lithium producer and Argentina has a promising pipeline of initiatives already within the worlds.
The preliminary record of finalists in Bolivia consists of U.S. startups Lilac Solutions – backed by German carmaker BMW and Bill Gates’ Breakthrough Energy Ventures – and EnergyX, in addition to China’s big battery maker CATL.
The different firms are Argentina’s Tecpetrol, Russia’s Uranium One and Chinese ventures Fusion Enertech, TBEA Co Ltd and CITIC Guoan Group Co.
Source: www.financialexpress.com”