RE: Mid-October contract negotiations21 Oct 2024 19:32
Https://www.ylb.gob.bo/node/117
MINISTER OF HYDROCARBONS AND ENERGY HIGHLIGHTS THE NEED TO GENERATE OPTIMAL CONDITIONS TO PROMOTE INVESTMENTS IN LITHIUM
Thursday, October 17, 2024 - 10:06
MINISTER OF HYDROCARBONS AND ENERGY HIGHLIGHTS THE NEED TO GENERATE OPTIMAL CONDITIONS TO PROMOTE INVESTMENTS IN LITHIUM
During the socialization of the bill on the use of Lithium Deposits and Evaporitic Resources, held in the city of Potosí, the Minister of Hydrocarbons and Energy, Alejandro Gallardo, highlighted the importance of guaranteeing optimal conditions for investments in the development and industrialization of lithium.
"The most important thing is that investments in the development of lithium exploration, exploitation and industrialization work have legal certainty and adequate incentives to carry out their operations in the best way," said the authority at the meeting in which authorities of the Government of Potosí, representative institutions of the department and social organizations participated.
Gallardo explained that, in the field of royalties, three key factors have been considered to promote the success of the industry: the international price of lithium, the increase in production and the improvement of product quality, with the aim of reaching battery grade, which is the highest standard for the industrialization of the resource.
"The objective is for operating companies to be able to produce the largest possible volume, achieving the best quality, which in this case is the battery grade. In this way, greater royalties and income will be generated, benefiting not only the department of Potosí, but also the country as a whole," said the minister.
The bill establishes a regulatory framework that takes these elements into account to incentivize both investment and production capacity, ensuring that Bolivia is in a competitive position in the global lithium market and that the benefits are fairly distributed among its regions.
For his part, Marco Antonio Copa, governor of the Autonomous Department of Potosí, described the meeting as "productive" and highlighted the participation of all social organizations, as well as the entities involved in the management, which participated in the working groups of this law. "We have coordinated with the brother Minister to talk about what will be the prompt approval of this law, which will benefit the department," he added.
Meanwhile, Ana María Castillo, secretary of the Committee on Energy, Hydrocarbons, Mining and Metallurgy of the Chamber of Senators, in her speech said that she considered it convenient to collect initiatives that can enrich, complement and strengthen this important project. "It is not written in stone; we want to listen to everyone, but it is also necessary to inform," he added.
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