Bolivian Gov’t Promotes Lithium Industry
La Paz, Apr 25. -Bolivian government is trying to develop the lithium industry, taking into account the high international demand for that metal, used to produce batteries for electric vehicles.
In this regard, the government is promoting a plan at the Uyuni salt flat, in the Andean department of Potosi, home to the world's largest lithium reserve.
President Evo Morales announced recently his decision to enact a law to create a 2 billion USD fund of national net hard currency reserves for large-scale industrialization projects.
The law would first be subject to a referendum.
The main purpose of the fund would be to give a boost to production, mainly through state-run firms, the president said.
Morales termed it essential to consult the population on allocating those funds to those activities.
According to official figures, the national monetary policy has made it possible to accumulate 10.60 billion USD in hard currency reserves, or 8.70 billion USD more than what the country held before Morales took office in 2006.
The nationalization of the hydrocarbons and mining industries were among the top sources of foreign currency reserves. (Prensa Latina)