Altmin on Thursday said that it has signed an agreement with Bolivian state company Yacimientos de Litio Bolivianos (YLB) to set up a pilot plant for active materials to manufacture lithium-ion batteries in the South American country.
“YLB, the national strategic public company for Bolivian lithium deposits, and Altmin have officially signed a strategic agreement to advance partnership for Lithium, C-LFP technology. The agreement outlines collaboration on the development of raw materials supply chain and production of cathode active materials (CAMs) for lithium-ion batteries, aligning with the bilateral industrialisation efforts of this vital resource,” the Hyderabad-based battery active materials manufacturer said.
The collaboration, which is the first of its kind where the South American nation enters into the advancement of indigenous Li-Ion battery manufacturing, is poised to impact the entire supply chain positively. Furthermore, the collaboration will cater to the global energy transition while addressing lithium requirements for Altmin’s India operations, it added.
The partnership entails sharing of scientific technology knowledge for manufacturing battery-active materials, through the establishment of a pilot plant in La Palca, Potosí using Altmin’s patented C-LFP technology and sharing of lithium carbonate supplies produced by YLB, Altmin said.
This partnership aims to enhance research, development, and piloting activities for Lithium and establish a bilateral raw materials supply chain, it added.
“Joining hands with YLB is extremely reassuring as it secures our position in the global battery market. This alliance will enable Altmin to produce upwards of 10 gigawatt hours (GWh) of lithium iron phosphate (LFP) by 2030, The partnership between YLB and Altmin is a significant milestone between the two countries in the critical minerals sector, fostering collaboration and innovation,” Altmin Founder & MD Mourya Sunkavalli said.
Speaking to businessline, Sunkavalli said, “Establishing a partnership with Bolivia and setting up a production line there will benefit India by securing a stable supply of lithium carbonate, as Bolivia is the largest producer of this resource.“
With a population of only 11-12 million in a country one-fourth the size of India, Bolivia focuses on Make in Bolivia. Meanwhile, India can also tap into the production of value-added minerals like LFP, supporting the Indian ecosystem, he added.
“In today’s world where countries like China have been acquiring mineral assets and securing supply chains and establishing dominance over raw material supplies, it is necessary and important for India to forge partnerships with countries such as Bolivia to secure and stabilise the supply chain for the new energy market. This will not only make India self-reliant, but will support industrialisation in these countries,” he emphasised.
Altmin recently inaugurated a Megawatt-scale LFP manufacturing plant with ARCI (International Advanced Research Centre for Powder Metallurgy and New Materials), emphasising its commitment to Cathode Active Material (CAM) production and India’s self-reliance in the sector while reducing external dependence.