UCOM MHE 02-06-2025.- The Plural Economy, Production and Industry Commission of the Chamber of Deputies approved the contract signed between Yacimientos de Lithio Bolivianos (YLB) and the Hong Kong CBC company in China for the installation of a project of lithium carbonate production in the Uyuni salt flat, that incorporates the Lithium Direct Extraction (EDL) technology that will optimize production.

In this context, that of Hydrocarbons and Energies, Alejandra Gallardo, stressed that the contract is highly beneficial for Bolivia, ensuring that it maintains the principles of economic sovereignty. He explained that YLB will have 51% of the project's profits once executed, while the Bolivian Government will achieve a 70% participation if taxes, royalties and other factors are considered. The CBC company, meanwhile, will have the remaining 30%.

Gallardo stressed that within the 49% share corresponding to CBC, a saving of 20% was stipulated during the first ten years for the construction of an industrial plant. This strategy will allow Bolivia to become a partner in one of the main companies in the sector worldwide, which will bring benefits in technology, training and industrial development.

Furthermore, YLB is expected to expand its role internationally not only in the extraction and industrialization of lithium carbonate, but also in the production of batteries. CATL participates in the Hong Kong CBC consortium, which is the world leader in the production of lithium batteries.

Gallardo also clarified that the contract does not commit a significant part of the national reserves, since only 1.34% of the Uyuni salt flat reserves will be used and the extraction area will cover less than 2%. He emphasized that all doubts about the contract were addressed with technical and regulatory information, guaranteeing control and supervision of the project from its inception to its execution.

With the growing demand for electric vehicles in Europe and China, the price of lithium continues to rise, allowing the country to take advantage of this opportunity to maximize its economic benefits. Bolivia has one of the largest lithium reserves in the world, a strategic resource for the global energy transition.