Bolivia has raised its lithium resource estimate to 23 million tons

On July 20, foreign media reported that the President of President of Bolivia said on Thursday that Bolivia's lithium resources are currently estimated at 23 million tons, and previous government studies have further consolidated the South American country's position as a global leader in lithium resources.

The new data is based on the exploration of over 66 wells in the Coipasa and Pastos Grandes salt flats, compared to the previous estimate of 21 million tons.

President Luis Arce told reporters that the government has also begun negotiations with EU representatives on investment in lithium projects.

All eyes are focused on Latin America and Bolivia because we have abundant lithium and strategic minerals, "Arce said, adding that at a summit with EU representatives in Brussels earlier this week, there was interest not only in lithium, but also in other minerals and metals in Bolivia.

The country also mines metals such as silver, zinc, lead, and tin.

Bolivia has previously sought investment from Russian and Chinese companies to develop its vast but largely untapped lithium resources.

In the first half of this year, the company signed three lithium agreements with two Chinese companies and a Russian company, promising to invest $2.8 billion to industrialize Bolivia's resources.

This white metal is a key component of electric vehicle batteries. In recent years, as car manufacturers have abandoned the production of internal combustion engine vehicles to comply with stricter regulations aimed at curbing climate change, the price of this metal has skyrocketed.

The United States Geological Survey (USGS) estimates that the so-called "lithium triangle" in South America has more than half of the world's lithium resources. However, Bolivia's reserves exceed those of its neighboring Argentina and Chile, estimated at 20 million tons and 11 million tons respectively.