Bolivia has signed a $1bn deal with Chinese consortium CBC to build two lithium carbonate production plants in the country’s largest salt lake.
In recent years, demand for lithium has skyrocketed following the growth in electric vehicle (EV) production. Often dubbed ‘white gold’, this lightweight metal plays a key role in the cathodes of the lithium-ion batteries that power EVs.
Ramping up production of EVs means there also needs to be an increase in lithium extraction.Lithium is extracted in two ways: the lithium found in brines underground is pumped to the surface where the water evaporates, leaving lithium behind; or, more traditionally, it is pit mined.
Lithium-rich brines are typically found in Argentina, Bolivia and Chile, in an area known as the ‘Lithium Triangle’. These brine deposits are typically found in underground reservoirs beneath salt flats or saltwater lakes.
The 10,500 square kilometre Salar de Uyuni in Bolivia is the world’s largest salt lake (as shown in the image above...