Bolivia’s state lithium corporation (YLB) ordered to proceed with the building of a lithium carbonate industrial plant from this month in Uyuni. YLB’s CEO Juan Carlos Montenegro said that the construction of the plant corresponds to the second phase of the industrialisation of lithium in Bolivia.
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Illegal extraction of tin in Huanuni, one of the most important mining centres in Bolivia, have caused the loss of $US2 million in the first eight months of this year. The former president of Bolivia’s Mining Corporation (COMIBOL) Hector Cordova, warned that there is a lack of scientific control of the mining activities that favour the illegal extraction of tin, an activity known as “juqueo”.
The Bolivian Exporters Association (CANEB) proposed to boost the development Puerto Bush (on the Paraguay-Parana waterway) after the Government announced the creation of $US250 million fund for the project.
Bolivia will execute Argentina’s guarantee bond for two unpaid bills for gas exports, said Bolivia’s Hydrocarbons Minister, Luis Sanchez. He added that he would visit Argentina next week to address the issue.
A Bolivian delegation, composed by the government and business representatives, is flying to China with the aim of selling cow meat to the Asian country. The livestock industry hopes to initially export 25,000 tonnes to China.
Bolivia’s Hydrocarbons Minister, Luis Alberto Sánchez, said that the gas sales contract to Brazil would not end in 2019 as it could be extended for five years more.
Since Argentina announced a reduced in the demand and the contract with Brazil is almost at its end (2019), Bolivia faced an adverse scenario for its gas exports, noted Bolivian energy expert, Carlos Miranda.
After successive interventionist PT governments, investors are hopeful Brazil will implement its first genuinely liberal economic programme in years. But for many, the proof will be in the pudding, especially given the doubts over Mr Bolsonaro’s own convictions.
While a supply shortage still looms in the lithium market next decade, the industry should brace for further volatility into next year, according to Wang Xiaoshen, vice chairman of Jiangxi Ganfeng Lithium Co., which is forecast to become the second-largest producer from this year.
A major advantage of lithium batteries compared to those made of other materials is they tend to be much lighter. This will have been of little comfort to metal producer Jiangxi Ganfeng Lithium Co. Ltd., however, when its stocks sank like lead on its trading debut on the Hong Kong Stock Exchange.