A giant Chinese battery company, Catl, has won a bidding process to develop Bolivia’s huge lithium reserves.
The ultra-light metal is used in electric vehicle (EV) batteries, production of which is expected to soar as fossil fuels are phased out.
Bolivian President Luis Arce said the Catl-led consortium was launching the “historic” industrialisation of lithium in Bolivia.
More than $1bn (£807m) will be invested in the project’s first phase, he said.
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