Bolivia Lithium Mining Forecast

The rising global demand for lithium stemming from the booming electric vehicle industry will lead foreign companies to seek investment opportunities in Bolivia, as a key source of the metal used in electric vehicle batteries. The Bolivian government, which maintains tight control over domestic lithium production and refinement, has stated plans to partner with foreign firms to develop projects further. Bolivia holds an estimated 9.0mnt of lithium resources, more than even top producers Australia and Chile, according to the US Geological Survey. We forecast lithium mine production in Bolivia to rise from 1.5kt in 2021 to 7.3kt by 2030.