Bolivia and Iran to advance partnership to exploit rare earth minerals

Bolivia and Iran are joining forces to develop valuable rare earth minerals. This partnership focuses on Bolivia's two major deposits in Palca (Cochabamba) and Manomo (Santa Cruz), which contain essential minerals like lanthanum and neodymium used in electric cars, wind turbines, and smart devices.

"This cooperation with Iran, a country with extensive experience in mining and technological development, will allow us to move towards the industrialisation of these resources," emphasised the Vice Minister of Technological Minerals and Mining and Metallurgical Productive Development, Ismael Charly Rodriguez Marza.

As reported by teleSur, a partner of TV BRICS, the two nations began formal talks in March, marking an important step towards technological advancement and economic development.

While China currently supplies most of the world's rare earth minerals, experts note that this new partnership creates fresh opportunities in the global market. Bolivia aims to build its own processing capabilities rather than just exporting raw materials, while Iran contributes its mining expertise to the joint venture.

The countries plan to finalise agreements in coming months, paving the way for shared research and sustainable mining projects. These rare earth elements are crucial for clean energy solutions and advanced electronics, making this partnership an important development for green technology worldwide.

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