Despite having such enormous untapped reserves, Bolivia currently is an afterthought when it comes to lithium production, at only 543 tons a year. This is compared to the present world leader, Australia, which now produces over 50% of world lithium at 55,000 tons per year.
Bolivia is moving ahead in reactivating the lithium industry to generate environmentally friendly energy and produce high-quality fertilizers, an official source announced on Monday.
Bolivia''s long-shot goal: to make lithium-ion batteries locally by 2025, an ambition even neighboring and more affluent Chile, the world''s No. 2 lithium producer, has not achieved after decades of production.
The appetite for lithium is immense, but so too are the demands of serious investors. Multinationals with stakes in Argentina’s brine fields or Chile’s Atacama operations will expect Bolivia to deliver not only geological potential but also predictability.
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