In an official statement, the Bolivian government declared an increase in its verified lithium reserves, positioning it as the holder of the worlds largest known reserve of this element.The announcement reported an increase from 21 to 23 million tons of lithium, following a study conducted to quantify the reserves.The quantification study spanned the salt flats of Pastos Grandes, situated in the Potos region of the Andes, and Coipasa, mainly within the Oruro department of Bolivia, with a fraction extending into Chilean territory.President Luis Arce cited the study, executed by the state-owned company Yacimientos de Litio Bolivianos (YLB), stating that Bolivias lithium reserves have expanded from an already quantified 21 million tons.Bolivia claims world leadership in lithium reservesThe government also reported significant infrastructure investments, including an upcoming road and a high-voltage power line to support a lithium extraction plant funded by the Chinese consortium CBC.Bolivia had earlier struck a US$1.4 billion deal with CBC to establish two lithium extraction plants in Coipasa and the Uyuni salt flat.Later, it signed agreements with Citic Guoan and the Uranium One Group to install additional extraction complexes.Notably, the Bolivian government seeks to collaborate with neighboring countries such as Chile, Argentina, and Peru for regional lithium-based development.Currently, industrial plants for processing potassium salts, chloride, and lithium carbonate are in operation, with another lithium carbonate plant nearing completion.The state also plans to explore five smaller salt flats for further lithium reserves in the years second half.