Brazil's state-run oil giant Petrobras has expressed interest in investing in Bolivia's lithium-rich salt flats and is eyeing industrial-scale projects, the country's top energy official said on Tuesday.
Energy Minister Franklin Molina made the remarks in an interview with state-owned Bolivian television on the same day that Bolivian President Luiz Arce met with the CEO of Petrobras on the sidelines of the Amazon Rainforest summit in Belem, Brazil.
"They also showed interest in visiting the Bolivian salt flats and were motivated by our industrialization project," Molina said.
"(Petrobras) has shown interest in a country that is shifting to electric vehicles and battery production," he added, stressing that the Bolivian government is keen to advance the development of lithium batteries.
Petrobras confirmed the meeting between Arce and Petrobras Chief Executive Jean Paul Prates in a statement late on Tuesday.
The meeting focused on evaluating "potential alliances and joint projects" in oil and gas, fertilizers, and "energy transition," a term sometimes used to describe projects involving key battery metals such as lithium, the report said.
Bolivia has significant lithium resources in its vast salt flats, but the landlocked South American country has yet to turn that potential into commercial-scale production. The partnership with Chinese battery giant CATL is still in its early stages.
Molina also asserted that Petrobras is interested in investing in Bolivian natural gas, the country's main fossil fuel business.
"They are not only talking about the continuity of gas exports to Brazil, but also future investments in developing new exploration projects to increase production," Molina said.
The minister noted that in a few weeks, a high-level Petrobras delegation focused on gas projects will travel to Bolivia, but he did not elaborate.
A company visit to Bolivia is expected in September, Petrobras said in the statement.
