Bolivia and Germany's ACI Systems create a joint venture for lithium
(CAMBIO)
Bolivia's state company Yacimientos de Litio Bolivianos (YLB) and Germany's ACI Systems yesterday signed the document establishing the public company YLB-ACISA-EM, which begins the third phase of the national project at the Salar de Uyuni: the industrialization of lithium.
The new entity — Yacimientos de Litio Bolivianos (YLB) and ACI Systems Alemania–Empresa Mixta (YLB-ACISA-EM), created under Supreme Decree 3738 — was established yesterday in Berlin in the presence of the Bolivian Minister of Foreign Affairs, Diego Pary, the Minister of Energy, Rafael Alarcón, and the general manager of YLB, Juan Carlos Montenegro, together with Germany's Federal Minister for Economic Affairs and Energy, Peter Altmaier, and the CEO of ACI Systems, Wolfgang Schmutz, according to a statement by the Foreign Ministry of the Plurinational State.
The agreement provides for the formation of two subsidiary public companies, to be constituted in 2019: one for the production of lithium salts and one for cathode materials and batteries.
Foreign Minister Pary highlighted the work of Bolivia and Germany on ambitious strategic projects, among them the Bioceanic Railway Integration Corridor, the purchase of machinery for power plants and the development of lithium industrialization. “Today Bolivia is the fastest-growing country in South America,” he said.
In April, Bolivia selected Germany's ACI Systems as its strategic partner for the third phase of the project at Uyuni, Potosí, which will require an investment of around US$1.3 billion.
Minister Alarcón explained that the Bolivian state had made significant progress in the industrialization of its evaporitic resources: the pilot stage has been completed, and the second phase is about to be consolidated with the industrial potassium chloride plant — currently in operation — and the industrial lithium carbonate plant now under construction, which will be finished next year. “Today we are beginning a new stage in Bolivia, because we are working to be partners and not to hand over our natural resources,” he declared.
The Vice-Minister for High Energy Technologies, Alberto Echazú, said the joint venture is an important step towards starting the third phase of the project, in which the state holds the majority stake (51%). The investment by YLB-ACISA-EM will amount to US$300 million.