Bolivia breaks deal to export urea to Cuba

The Minister of Hydrocarbons, Víctor Hugo Zamora, reported that the Government of Bolivia decided to break its contract with a Cuban company for the sale of urea, because the set price is low, causing economic damage to the country. He did not specify how much damage it caused. The product will be incorporated into the domestic market to improve its price and competitiveness. In June 2019, the government of former President Morales signed agreements with Havana for the export from Bolivia of wood, urea and fabrics for about $12 million.

Potassium Chloride Plant operates at 10% of its capacity

The Potassium Chloride Plant has a production capacity of 350 thousand tons per year, and today we are producing only 25,000 tons per year, less than 10%,” said Vice Minister for High Energy Technologies, Luis Ferrufino Terceros, yesterday. The plant’s “poor design” caused evaporation pools to collapse and brine extraction equipment to become damaged by flooding in the salt flat during the rainy season. Bolivian Lithium Sites (YLB) calls on insurer Credinform to take care of the loss of brine extraction pumps that were lost underwater.

Petrobras incorporates Bolivia into global disinvestment plan

After 20 years, Petrobras’ presence in Bolivia begins to come to an end; the Brazilian company has expressed an intention to sell its assets in Bolivia and Uruguay. The decision is the sum of several factors, such as the decline in production of the San Alberto and San Antonio fields; suspension of exploration in San Telmo Norte and Astillero in the Tariquía reserve and the lack of the company’s resources to continue operating in areas such as Presal in Brazil.

ENTEL PROJECTS JOIN PACIFIC OPTICAL FIBRE IN 60 DAYS

The general manager of the National Telecommunications Company (Entel), Elio Montes, reported that in 60 days Bolivia would splice its connection to the Pacific fibre optics by the border town of Desaguadero, which will allow to reduce tariffs and increase the speed internet service offered by the state firm. Bolivia currently has one of the lowest-speed and most expensive internet services in the region.

50% of cell phones in Bolivia are cloned

The president of the Bolivian’s Single Federation of Microelectronics Technicians, Donato López, reported on Tuesday that 50% of cell phones are “cloned” in the country and that organization works on technical methods to disable stolen mobile equipment. We estimate there are twenty million cell phones. To determine how many official and cloned phones exist in Bolivia, telephone companies in coordination with the police require a “blackout”.

Bolivia's GDP grows 2.86 per cent in the third quarter of 2019

Bolivia’s Gross Domestic Product (GDP) grew by 2.86 per cent year-on-year in the third quarter of 2019, the lowest rate in recent years. Uncertainty in international markets, political, economic and social crises adversely affected the activities of mining, crude oil, natural gas and its derivatives. Despite the adverse global environment, the Bolivian economy continues to show dynamism, registering The second highest growth rate in South America. Bolivia projected growth of 4.2% by 2020.

Lithium: Government seeks 'friendly exit' with German company ACI Systems

The Deputy Minister of Electricity and Alternative Energy, Humberto Leigue, said on Tuesday that a “friendly exit” will be sought to dissolve the partnership formed by the government of the Movement al Socialism (MAS) with the German company ACI Systems, to exploit the lithium of the Salar de Uyuni, in Potosí. It is to ask them that the deposits they made in the formation of the joint venture be recovered by Germany and Bolivia. The joint venture project had a directory in which Bolivia only by name had the majority; in fact, it had a veto from the minority companies that placed the resources.

Peru suspends import of agricultural products from Bolivia

Peru’s National Agricultural Health Service (Senasa) announced the suspension of imports of plant products and other animal products as published by El Comercio. The fact is in response to the measure imposed by the Bolivian government, which suspended the importation of Peruvian vegetables, “without technical sustenance”. Peru and Bolivia maintain a historic agricultural trade relationship, which during 2019 achieved the import of 896,000 kilos of boneless beef and was allowed to import 10,499 tons of peanuts, 1,614 tons of chia and 617,000 metric tons of soy and its derivatives.

"Strict limits" shall apply to foreign investment in lithium production.

The new executive manager of Bolivian Lithium Sites (YLB) reported that they plan strict limits on foreign investment in the metal extraction and processing. They seek to strengthen the local know-how and work with specialized international advisors. Bolivia produces 400 metric tons of lithium per year in a test plant. They expect to produce about 50,000 tons over the next five years. The agreement signed by the MAS administration for lithium industrialization with Chinese firm Xinjiang TBEA is under analysis. The project for the construction of a lithium plant with a capacity of 15,000 tons per year will remain.