June 13, 2024--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Bolivian President Luis Arce traveled to Russia last week to attend the St. Petersburg International Economic Forum and strengthen economic ties with Moscow. During his visit, Arce met with Russian President Vladimir Putin and representatives from Russian lithium companies, all of whom agreed to develop a lithium-related supply chain.

According to the United States Geological Survey (USGA), Bolivia holds the world's largest lithium reserves, with 23 million tons. The South American nation has signed lithium production agreements with two Chinese and one Russian company, but its industry remains relatively underdeveloped.