Tata Chemicals eyeing lithium exploration in Bolivia
Tata Chemicals Ltd is evaluating business opportunities related to the exploration and import of lithium from Bolivia to India and possibly to other countries where the company operates.
A team of senior executives from the company recently visited the South American nation, which has the largest deposits of lithium in the world, and held meetings with government officials of Bolivia.
At present a lithium-ion battery accounts for 40% of the total cost of an electric vehicle. This can be a great opportunity for Tata Chemicals as demand for lithium will only increase in the coming years in the domestic market and globally.
Bolivia has the capacity to supply 15,000 tonnes of lithium per annum, which is far short of the global demand for the mineral. Currently, most of the lithium exploration is done by Bolivia’s state-owned companies along with Chinese ones. Hence, exploration is a promising opportunity for Tata Chemicals.