Bolivia battery cabinets
Bolivia has chosen a consortium including Chinese battery giant CATLto help develop the South American country''s huge,but largely untapped,reserves of lithium after a lengthy bidding process
Bolivia holds the world's largest resources of the ultralight metal used in electric vehicle batteries, but development has been hamstrung by political opposition and a law mandating state control of the sector that has chilled broad investor interest. The Reuters Daily Briefing newsletter provides all the news you need to start your day.
Felipe de Mussy, South America president for U.S. lithium technology firm Lilac, which lost a prior bid in Bolivia, said he would look at fresh opportunities if Paz ensured stable regulation and transparency. "With clearer rules and openness to new technologies, Bolivia could unlock its vast lithium potential," he said.
Bolivia could be a good fit for smaller companies aiming to prove their technology, as well as larger companies with the financing backing to absorb risk, said Chilean mining lawyer Pablo Hamilton, who is aiming to help connect foreign investors with energy and lithium opportunities in the new government.
Among other issues, Paz faces a decision on whether to modify a Bolivian law dictating that only the state can extract lithium, which has cramped investor interest both locally and abroad. Changing it would require constitutional referendum or reform. Paz and his advisors have yet to weigh in on the question.
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