Geneva Club CDG Observes Lithium Contract Between the State and Uranium One Group
Through a letter addressed to Andrónico Rodríguez, president of the Senate, and Omar Yujra, president of the Chamber of Deputies, the Geneva Club (CDG) raised a series of concerns regarding the contract signed between Bolivia’s state-owned Yacimientos de Litio Bolivianos (YLB) and the Russian company Uranium One Group. The Geneva Club, an association based in Switzerland, pointed out that the contract commits Bolivia until at least 2047, does not bring benefits to the country, and keeps it as a mere raw material supplier. “The partnership contract, in which YLB nominally holds 51%, does not provide for profit distribution. Along with three other contracts that would be signed without the participation of the Legislative Assembly, it forms part of the ‘package’ of contracts presented to the Assembly,” the Geneva Club’s statement noted. The document further added that the agreement between the State and the Russian company “would generate a debt of at least $976 million” and an obli...