The minister noted that due to technological changes with new developments, the demand for lithium could register a reduction in the future.

Gallardo insisted that the country must take advantage of its resources and present itself as an “open window to the world”, demonstrating that the necessary conditions for investment are in place.

He warned that recent criticism of the contracts inked by the state-owned Bolivia Lithium Deposits (YLB) with Chinese and Russian companies intended to politicize the industrialization of this economic resource.

Gallardo said those contracts, worth almost two billion dollars with Russia’s Uranium One Group and China’s consortium CBC, are awaiting approval in the Plurinational Legislative Assembly (ALP).

However, several legislators and sectors stated that Bolivia will lose control of the lithium, as the contracts are defeatists and will favor those international firms.

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