Bolivia, Chinese companies ink deal to extract lithium

LA PAZ, Jan. 17 (Xinhua) -- Bolivia's government signed an agreement Wednesday with Chinese consortium Catl, Brunp and Cmoc (CBC) to develop a pilot plant to directly extract and process lithium at the Uyuni Salt Flats in the southwest Bolivian department of Potosi.

"The lithium era is an era that we have to take advantage of," said Bolivian President Luis Arce in a speech during the official signing ceremony.

"Unfortunately, in the past, we did not achieve the necessary speed in this area, but the national government has made the clear decision that this issue of lithium industrialization is a central element in politics," he added.

Arce said the lithium extraction plant entails an investment of 90 million U.S. dollars and will have an initial production capacity of 2,500 tons of lithium carbonate a year.

The Chinese consortium comprises three companies that are global leaders in the lithium field and known for their "high technological level," he said.