Bolivia’s election of centre-right President-elect Rodrigo Paz Pereira could see the country open its vast lithium resources to foreign investors to bolster its faltering economy – a move that could benefit the US after years of hostility toward Washington, analysts say.
Paz, a senator and the son of a former president, won the country’s election earlier this month, ending two decades of left-wing rule, which constrained foreign investment in the South American nation’s mineral wealth.
The change in government may be welcomed by investors in the US, which is seeking to secure access to minerals that are critical for clean technology and military equipment, to counter China’s supply chain dominance, and has previously raised concerns over Chinese investments in the region’s lithium industry.
Lithium is a key material to manufacture rechargeable batteries for electric vehicles and energy storage.
Bolivia makes up less than 1% of global lithium production despite possessing some of the world’s largest reserves, with an estimated 23 million tonnes, or 20% of the global total.
Paz has pledged to seek overseas partnerships to tap these reserves. But he will have to balance engaging the US with maintaining investment from China and Russia initiated by his predecessors.
“Exactly what he does on this issue will determine his relationship with China and Russia,” said Farit Rojas, a professor at the Higher University of San Andrés in La Paz.
At the same time, the political reset could provide Bolivia with a critical opportunity to set clearer and stricter environmental and social standards for developing its burgeoning lithium sector, analysts told Climate Home News.
Bolivia’s lithium dream
Paz’s election comes at a pivotal moment for the country. It is mired in an economic crisis spurred by runaway inflation caused by a foreign currency shortage, leaving people waiting in long lines for fuel and essentials like cooking oil.
Converting lithium reserves into a profitable export industry would bring much needed dollars into the country.
But doing so would require amending Bolivia’s constitution to allow private firms to extract the mineral. That privilege was restricted to Bolivia’s state-owned companies under the 20-year rule of the Movement for Socialism (MAS), the party formerly led by ex-President Evo Morales.
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Constitutional restrictions and past rejection of foreign investment mean Bolivia’s lithium resources remain largely untapped compared to neighbouring Argentina and Chile, whose deposits are of higher quality.
A significant share of Bolivia’s deposits also lie beneath the Salar de Uyuni salt flats, a major tourist attraction.
Paz, whose party does not have a legislative majority, has yet to say whether and how he will amend Bolivia’s constitution. But he has pledged not to “sell out” Salar de Uyuni.
US, China and Russia: a balancing act
His first months in office will be watched closely by the Trump administration. Following Paz’s election victory, the US Department of State pledged to work with him on “shared goals of regional and global security, economic prosperity, and growth that will benefit our nations”.
For the US, this could be an opportunity to break China and Russia’s grip on Bolivia’s lithium reserves, said Pablo Hamilton, a Chilean mining lawyer connecting foreign investors with energy opportunities in Bolivia.
In 2024, Bolivia’s state-owned Yacimientos de Litio Bolivianos lithium company signed contracts worth a combined $2 billion with Chinese and Russian firms to extract lithium beneath the Salar de Uyuni salt flats. The year prior, it signed a $1.4 billion deal with Chinese battery manufacturing giant CATL to develop its lithium resources.
AI and satellite data help researchers map world’s transition minerals rush
But those contracts – which have yet to be approved by Bolivia’s legislature – have been sharply criticised by scientists, Indigenous peoples and local communities because of a lack of transparency over the consultation process, inconsistencies within the contracts and environmental risks. Paz has pledged to review the contracts.
Cancelling the contracts could cause investors to worry about policy volatility, Hamilton told Climate Home News. But the administration could justify doing so if it can prove allegations of corruption that have swirled around the deals. It could also provide an opportunity to establish stricter mining standards that provide certainty to potential investors.
Investors “don’t know what to expect”
“The rules are not clear enough. It’s very concerning that investors don’t know what to expect,” Hamilton said. “This is a great opportunity to [mandate] a free, prior and informed consultation process and environmental impact assessments – really professional ones, not just to tick the box.”
To attract foreign investment, Paz will likely seek to build public-private partnerships, which will require greater engagement from local actors than in the past, Hamilton said.
In the area surrounding Salar de Uyuni, Indigenous groups have lost trust in the government, citing the shadowy allocation of mining contracts and saying their communities have not benefited from mining.
They also worry that additional extraction would deplete the limited freshwater resources they rely on for farming, said Gonzalo Mondaca of environmental organisation Cedib, which works with communities living in the lithium-rich region.
Efforts to green lithium extraction face scrutiny over water use
The proposed Chinese and Russian extraction plans would use direct lithium extraction (DLE), a group of technologies that proponents say can help extract more lithium with fewer environmental impacts but which still uses large amounts of water.
But existing environmental assessments are not sufficient to understand the impact of the technique on the salt flat’s ecosystem, said Mondaca.
On the campaign trail, Paz also said he would seek to export the magnesium byproducts of lithium extraction to the US and China.
However, that plan requires a high level of technological development and Bolivia currently lacks the necessary infrastructure, said Mondaca.
Even if the new president manages to clear constitutional hurdles to liberalise the country’s lithium sector, “there is still a long way to go,” he added.
The post Bolivia’s shift to the right renews ambition to mine vast lithium reserves appeared first on Climate Home News.
Bolivia’s shift to the right renews ambition to mine vast lithium reserves
Today, Greenpeace activists disrupted Woodside’s Annual General Meeting, its biggest corporate event of the year, to put the dirty gas corporation’s disastrous plans to drill at Scott Reef front and centre.
While a community rallied outside the shareholder meeting, Greenpeace activists brought the protest inside.
Together, a clear message was sent to Woodside’s executives: keep your hands off Scott Reef.
Inside, a choir of activists performed a ‘Save Scott Reef’ rendition of Angie McMahon’s cover of ‘Reckless’ – a plea to Woodside’s executives, including new CEO Liz Westcott, and shareholders to abandon their reckless plans to drill for dirty gas on the doorstep of a pristine ocean ecosystem.
Several activists were escorted out of the meeting by security while singing and holding up “Hands off Scott Reef” signs that had been smuggled into the room.
Outside, a powerful community gathered in protest, calling on WA and Federal governments to reject Woodside’s Browse project and put our oceans and climate first.
Why are we doing this?
Woodside’s Browse project involves drilling 57 gas wells underneath and around Scott Reef – a critical habitat for rare marine life including pygmy blue whales, green sea turtles and the dusky sea snake.
Gas would be extracted and transported to the Burrup Hub – the most polluting fossil fuel project in Australia. This proposal would industrialise Australia’s largest freestanding oceanic reef system, threatening the marine life that relies on it and the climate.
This project has already been called “unacceptable” by the WA EPA, and has not yet been approved by either the WA or Federal government.
That means our voices matter, now.
Woodside cannot be trusted with our oceans. Together, we can save Scott Reef.
Climate Change
DeBriefed 24 April 2026: Europe’s energy-crisis plan | Renewables overtake coal | Colombia’s fossil-fuel summit
Welcome to Carbon Brief’s DeBriefed.
An essential guide to the week’s key developments relating to climate change.
This week
Europe’s energy plan
ENERGY CUSHION: On Wednesday, the European Commission set out a package of measures to offset surging energy prices caused by the Iran war, reported Reuters. The draft “actions” include cutting electricity taxes and coordinating the filling of fossil-gas storage this summer, the newswire explained. It added that the package stopped short of “major market interventions”, such as capping gas prices or taxing the windfall profits of energy companies. (Carbon Brief published an interactive table of the 44 actions.)
‘BAD SCENARIO’: The newswire quoted EU energy commissioner Dan Jorgensen, who said to expect higher gas prices for a “couple of years”, adding: “We really do need to get rid of our dependency on gas as fast as possible. So, for us, this means speeding up more clean energy.” Legal proposals to change tax rules are expected in May, the article said, noting: “Tax changes require unanimous approval from EU countries, making them difficult to pass.”
FLIGHT RISK: The 16-page “AccelerateEU” document also includes plans to coordinate on jet fuel and diesel supplies “to fend off a looming shortage”, said Politico. Jorgensen told Sky News that European summer holidays were “very likely” at risk of “flight cancellations or very, very expensive tickets”. The Financial Times reported that German airline Lufthansa has already “cancelled 20,000 flights between May and October to save fuel”.
Around the world
- RENEWABLES RECORD: Renewable energy overtook coal last year to become the world’s largest source of electricity, according to analysis by thinktank Ember, covered by Carbon Brief.
- ‘PRIORITISE UNITY’: France chose to omit climate change from the agenda of a G7 meeting in Paris this week in order to “avoid a row with the US”, said Agence France-Presse.
- CHINA WARNING: China has pledged to “strictly control” coal use and will grade local authorities on how well they meet the country’s climate goals, according to two new policies covered in a Q&A by Carbon Brief.
- ‘DOUBLE DOWN’: The UK government said it will “move…to break [the] link between gas and electricity prices” in response to the spike in fossil-fuel prices, reported Carbon Brief.
- EXTREME HEAT: A report from the UN Food and Agriculture Organization (FAO) and the World Meteorological Organization (WMO) warned that global food systems are being “pushed to the brink” by increasingly common and severe heatwaves on land and at sea, reported the Guardian.
- WHAT’S IN A NAME: In a national vote, Japan selected “kokushobi” – translated as “cruelly hot” – as the new term to describe days that hit 40C, reported BBC News.
£785
The amount that a new electric vehicle is cheaper, on average, than a new petrol car, according to car sales website Autotrader. The Guardian described this as a “significant milestone in Britain’s transition away from fossil fuels”.
Latest climate research
- Climate-driven extremes in temperature and pH put “underwater cultural heritage”, such as shipwrecks in the Taiwan strait, at greater risk of corrosion | Climate Services
- As many as 98% of environmental claims and commitments made by meat and dairy companies over 2021-24 could be categorised as “greenwashing” | PLOS Climate
- Bioenergy with carbon capture and storage (BECCS) is “unlikely to generate negative emissions within 150 years” and is “likely to increase electricity costs by ~3.5-fold” | Nature Sustainability
(For more, see Carbon Brief’s in-depth daily summaries of the top climate news stories on Monday, Tuesday, Wednesday, Thursday and Friday.)
Captured
With a strong – or even “super” – El Niño event expected to develop later this year, Carbon Brief estimated that 2026 is on track to be the second-warmest year on record. The prediction puts global average temperature in 2026 at between 1.37C and 1.58C above pre-industrial levels, with a best estimate of 1.47C. This means that 2024 is “virtually certain” to be one of the top-four warmest years, but there is still a 19% chance that 2026 will be the warmest year on record – beating the prior record set in 2024.
Spotlight
Countries mull fossil-fuel transition in Colombia
This week, Carbon Brief reports from a first-of-its-kind summit on transitioning away from fossil fuels being held in Santa Marta, Colombia.
Around 60 countries are arriving in Santa Marta, Colombia today where – against a backdrop of white-sand beaches, rolling forested hills and stifling humidity – they will consider ways to move away from fossil fuels.
The first global summit on transitioning away from fossil fuels comes after a large group of nations campaigned for – but, ultimately, failed – to get all countries to formally agree to a “roadmap” away from coal, oil and gas at the COP30 climate summit in Brazil last November.
The nations gathering in Santa Marta for the summit, co-hosted by Colombia and the Netherlands, call themselves the “coalition of the willing”.
Together, they account for one-third of global fossil-fuel demand and one-fifth of global production, according to the Colombian government.
The group includes major oil-and-gas producers such as the UK, Canada, Australia, Brazil and Norway. Some big emitters – such as the US, China and India – are not expected to attend. (There is a question mark over whether China and India were invited.)
Academics to advise
In a departure from COP summits, the six-day event, from 24-29 April, will begin with a “science pre-conference”, where academics from across the world will present and discuss the latest scientific evidence on ways to transition away from fossil fuels.
Ahead of this, countries attending the talks have already been handed a draft scientific report with “action recommendations”, such as “halting all new fossil-fuel expansion” and “reject[ing] gas as a bridging fuel”, as revealed by Carbon Brief.
The report will be further debated and refined by scientists attending the academic segment of the Santa Marta talks, before a final version is made public towards the end of April, Carbon Brief understands.
The science pre-conference will also separately see the launch of a new advisory panel on fossil-fuel transition and a scientifically led roadmap for how Colombia can transition away from fossil fuels, sources tell Carbon Brief.
Alongside the science pre-conference, dialogues will also be held with Indigenous peoples, environmental organisations and other stakeholders.
‘High-level segment’
The science pre-conference will be followed by a “high-level segment” from 28-29 April, where ministers and other policymakers will meet to consider ways to transition away from fossil fuels. (Colombia’s president Gustavo Petro Urrego is expected to speak.)
At the end of the conference, countries are due to release a report featuring a “menu of solutions” for transitioning away from fossil fuels, according to Colombia’s environment minister Irene Vélez Torres.
This report is, in turn, set to inform a global “roadmap” on transitioning away from fossil fuels being developed by the Brazilian COP30 presidency, which is due to be presented at COP31 in Turkey this November.
The Brazilian COP30 presidency offered to bring forward a “voluntary” fossil-fuel transition “roadmap” outside of the official COP process, after countries failed to formally agree to one during negotiations in Belém.
Watch, read, listen
‘SHADOW DOCKET’: The New York Times obtained the “secret memos” behind the US supreme court’s decision in 2016 to block the Obama administration’s clean-power plan.
EGREGIOUS ENGAGEMENT: DeSmog identified multiple social media accounts in Sri Lanka posting AI-generated “energy policy rage bait” to UK Facebook feeds (as first revealed by Carbon Brief’s Leo Hickman).
CHINA ‘DOMINANCE’: A “Bloomberg originals” video looked at the “race to challenge China’s EV lead”.
Coming up
- 24-29 April: First conference on transitioning away from fossil fuels, Santa Marta, Colombia
- 28-29 April: Innovation Zero world congress, London, UK
- 29 April: Stop food waste day
- 6-7 May:GLF Africa 2026: stewarding our rangelands, Nairobi, Kenya
Pick of the jobs
- Natural England, chief executive officer | Salary: circa £130,000. Location: UK
- ETH Zurich, postdoctoral position in climate science | Salary: Unknown. Location: Zurich, Switzerland
- International Energy Agency, partnership manager – clean energy ministerial | Salary: €97,180. Location: Paris, France
- Greenpeace, media diversification press officer | Salary: £48,396-£55,644. Location: London, UK (hybrid)
- Our World In Data, writer | Salary: £80,000-£120,000. Location: Oxford, UK or remote
DeBriefed is edited by Daisy Dunne. Please send any tips or feedback to debriefed@carbonbrief.org.
This is an online version of Carbon Brief’s weekly DeBriefed email newsletter. Subscribe for free here.
The post DeBriefed 24 April 2026: Europe’s energy-crisis plan | Renewables overtake coal | Colombia’s fossil-fuel summit appeared first on Carbon Brief.
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