Bolivia Welcomes Russian Investments and Expands Opportunities for International Capital

news 05-Jul-2023 World News

President of Bolivia Declares Country's Openness to Russian Investments

Bolivia is open to investments from other countries, including Russia, according to President Arce. In an interview with RIA Novosti, the country's president, Luis Arce, stated that Bolivia welcomes Russian investments as well as investments from other nations.

"We are open to Russian investments coming into our country, not only from Russia but also from other countries. We are open to receiving any type of capital. The only thing we ask is for respect towards our Constitution and laws, which are quite conservative when it comes to the distribution of profits from industrial exploitation of natural resources," he said.

Previously, the international uranium mining holding company "Rosatom" Uranium One Group and Bolivia's state lithium company, Yacimientos de Litio de Bolivia (YLB), signed a framework agreement for the construction of an industrial complex for lithium carbonate extraction and production in the department of Potosi, Bolivia. The project is expected to attract investments of approximately $600 million. The industrial complex will have an initial capacity of 25,000 tons of lithium carbonate per year, with the potential to increase capacity based on the results of geological exploration work.

"Rosatom" aims to achieve planned lithium production targets, capturing up to 4% of the global market by 2027, said Alexey Likhachev, the CEO of the Russian atomic energy corporation.

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