Bolivia
Mineral resources

Bolivia, while historically renowned for its vast mineral wealth, is relatively under-explored in geological and mineralogical terms. The country is rich in various mineral and natural resources, sitting at the heart of South America in the Central Andes.

Mining is a major sector of the economy, with most of the country's exports being dependent on it. In 2019, the country was the eighth largest world producer of silver; fifth largest world producer of tin and antimony; seventh largest producer of zinc, eighth largest producer of lead, fourth largest world producer of boron; and the sixth largest world producer of tungsten. The country also has considerable gold production, which varies close to 25 tons/year, and also has amethyst extraction.

Bolivia has the world's largest lithium reserves, second largest antimony reserves, third largest iron ore reserves, sixth largest tin reserves, ninth largest lead, silver, and copper reserves, tenth largest zinc reserves, and undisclosed but productive reserves of gold and tungsten. Additionally, there is believed to be considerable reserves of uranium and nickel present in the country's largely under-explored eastern regions. Diamond reserves may also be present in some formations of the Serranías Chiquitanas in Santa Cruz Department.

Bolivia has the second largest natural gas reserves in South America. Its natural gas exports bring in millions of dollars per day, in royalties, rents, and taxes. From 2007 to 2017, what is referred to as the "government take" on gas totaled approximately $22 billion.

The government held a binding referendum in 2005 on the Hydrocarbon Law. Among other provisions, the law requires that companies sell their production to the state hydrocarbons company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) and for domestic demand to be met before exporting hydrocarbons and increased the state's royalties from natural gas. The passage of the Hydrocarbon law in opposition to then-President Carlos Mesa can be understood as part of the Bolivian gas conflict which ultimately resulted in election of Evo Morales, Bolivia's first indigenous president. The US Geological Service estimates that Bolivia has 21 million tonnes of lithium, which represent at least 25% of world reserves – the largest in the world. However, to mine for it would involve disturbing the country's salt flats (called Salar de Uyuni), an important natural feature which boosts tourism in the region. The government does not want to destroy this unique natural landscape to meet the rising world demand for lithium. On the other hand, sustainable extraction of lithium is attempted by the government. This project is carried out by the public company "Recursos Evaporíticos" subsidiary of COMIBOL.
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