Russia agrees lithium deal with Bolivia

RUSSIA / FSU POLITICS - In Brief 14 Dec 2023 by Alex Teddy
On December 13 the two countries signed an agreement to allow Uranium One Group to buy lithium from Bolivia. Lithium is a vital component in batteries and electrical vehicle parts. Rosatom (the Russian atomic energy company) is the parent company of Uranium One Group. Uranium One Group beat 6 other firms who were trying to win the contract. Rosatom will invest in Bolivia between now and 2025 to found a lithium plant. The aim is to produce 1,000 tons of lithium carbonate in 2024 and eventually 14,000 tons a year. The Bolivian president was present when the agreement was signed, which signifies how important it is for his country. Bolivia is the poorest country in South America. Most of its people are indigenous and thus do not identify with the West. It is neutral on the Ukraine Conflict. Bolivia has 23 metric tons of proven lithium reserves. China has also partnered with Bolivia to start large-scale production. Argentina and Chile also have rich lithium reserves.  Bolivia also exports natural gas. However, exports have been dropping due to under-investment. This is another potential area for Russo-Bolivian co-operation.

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