Bolivia looks for tie up with India on Lithium mining, says

Bolivia, which has the largest reserves of Lithium, used in making batteries of electric vehicles, laptops and smart phones, is looking to have tie ups with Indian firms for mining the element and also help battery manufacturing, envoy of the south american nation said.

Ambassador of Plurinational State of Bolivia to India, JJ Cortez said after the visit of president Ram Nath Kovind to the Latin American country in March, a team of officials from Niti Aayog and representatives of three State-owned companies recently visited that country to explore the possible tie ups between the two countries.

"There was a visit of Niti Aayog team to Bolivia. There were also representatives of three State (owned)companies dealing in aluminum, copper and other materiel.

They are checking the possibilities ( for tie up with Bolivia). Together with Nitit Aayog, they are planning to come out with a master plan I suppose. We are expecting them to come ( to Bolivia)," Cortez, who participated in "Electric Vehicle Summit-2019" said Wednesday.

Noting that there were two companies, one from China and the other from Germany producing Lithium in Bolivia currently, he said his country has plans to produce 15,000 tonnes in order to export.

"We don't have everything to manufacture a battery. The technology is really complex. With Lithium supplies from our side and the knowledge of Indian companies can do things together," he added.

On the bilateral trade between India and Bolivia, Cortez said it clocked USD 850 million in 2019 with about Rs 700 crore worth of exports mostly gold from that country side.

"We are in the edge of USD 850 million in 2019. That is represented by USD 700 million exports to India. India is buying lot of gold from us. In the coming two to three years we should think about it (touching USD one billion)," he told PTI.

Bolivia wants to establish "fruitful relationship" with the Telangana government and look for a business model, where both will benefit, the ambassador said.