Bolivia has 21 million tons of Lithium reserves, the largest in the world and one fourth of the total world reserves of 80 million tons, according to the US Geological Survey.
Argentina has the second largest with 17 million tons, followed by Chile with 9 million, the third largest.
Demand for Lithium was around 360,000 tons in 2020 and is growing fast thanks to the global drive for electric vehicles, in which Lithium batteries are used. Lithium is also used in many electronic devices.
But Bolivia produces a paltry 600 tons of Lithium Carbonate, while Chile produces 134,000 tons and Argentina 36,000 tons.
Australia, which has 6.3 million tons of reserves, is the largest producer of Lithium for now. Australia earned 1.6 billion dollars in 2019 from Lithium exports.
China is the largest consumer of Lithium. China controls 80% of the world’s raw material refining, 77% of the world’s cell capacity and 60% of the world’s component manufacturing.
Excessive resource nationalism and suspicion of foreign companies by ex-President Evo Morales and absence of proper vision and policies by the Bolivian governments have held back Bolivia from monetization of the valuable Lithium reserves...Pity..
Hope President Luis Arce will move fast and get Bolivia in the Lithium production map of the world.
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