Sao Paulo, 13 August (Argus) — In a surprise decision, Bolivia’s congress approved a lithium mining concession deal with Russian state-owned conglomerate Uranium One Group following a tumultuous, almost year-long legal battle.
The decision, made on Tuesday, followed a vote by secret ballot — which is unusual in congress — because of several disruptions and delays on previous court hearings surrounding the matter, including one earlier on the day of the verdict. The concession passed on an 8-3 vote with four abstentions.
Uranium One Group, a subsidiary of Russian state-owned atomic energy company Rosatom, can now build and operate a 14,000 metric tonne (t)/yr lithium carbonate (Li2CO3), direct lithium extraction (DLE) plant in the Uyuni salt flats, home of the largest lithium reserves in the world. The Russian company will spend $970mn on the project, according to Bolivia’s state-owned lithium firm Yacimientos de Litio Bolivianos (YLB), which will hold a 51pc stake.
The approval was unexpected even by YLB, which expected the deal to be approved in 2026.
Over the course of 11 months since the concession was announced in September 2024, a decision was delayed four times, frozen — and later unfrozen — opposed by local communities and by presidential hopefuls, all while the current administration pushed for the approval as Russia threatened to void it if it was not expedited.
This was one of two concession agreements YLB made with foreign companies. The 35,/yr Li2CO3 deal with China’s CBC, a CATL subsidiary, is still awaiting a decision, but the timeline for a decision is still uncertain because Bolivia’s presidential election is scheduled for 17 August and its lithium future hinges on the vote.
By Pedro Consoli
