Lula connects coup attempt in Bolivia to interest in lithium

Brazil’s President Luiz Inácio Lula da Silva stated on Thursday (Jun. 27) that the attempted coup in Bolivia might be related to the country's reserves of lithium, gas, and other minerals. "Bolivia attracts significant international interest because it possesses the world's largest lithium reserves, as well as other critical minerals of great importance and gas. We must recognize that these resources make Bolivia a target for a coup d'état," said Lula in an interview with Radio Itatiaia.

Referred to as "white gold" or "the oil of the 21st century," lithium is a critical mineral essential for the energy transition and electric car batteries. It is estimated that 53 percent of the world's lithium reserves in Latin America are concentrated in countries such as Chile, Bolivia, and Argentina.

President Lula has confirmed his trip to Bolivia on July 9, where he will meet with President Luis Arce in Santa Cruz de la Sierra and local businesspeople. Lula's visit to Bolivia will follow the Mercosur Heads of State Summit, to be held in Asunción, Paraguay, on July 7 and 8.

"I'm going there to support Luis Arce, to strengthen democracy, and to emphasize to businesspeople the importance of maintaining democratic governance in Bolivia. Without it, Bolivia won't even be able to join Mercosur."

Coup attempt

On Wednesday (26), a group of army soldiers led by General Juan José Zúñiga gathered in the central Plaza Murillo, where the presidential palace and the Bolivian Congress are located. Using armored tanks, they broke down a door of the presidential palace, allowing the soldiers to enter the building. Zúñiga and around a dozen Bolivian soldiers have since been arrested.