The Jeremy Robinson-led Cosmos Exploration is setting its sights on the Bolivian sector of South America's Lithium Triangle, a region less explored by Australian investors compared to Argentina and Chile. While Bolivia holds an estimated 23% of the world's known lithium resources, its lithium industry lags behind its neighbors due to challenges such as high magnesium content in its salars (evaporating ponds) and a prolonged rainy season.
Previous attempts to develop the industry through solar evaporation have faced setbacks, and despite state investments exceeding US$800 million in direct lithium extraction, results have been disappointing. Bolivia initiated a public tender process in January, with Australia's EAU Lithium emerging as one of the few companies to sign an agreement with the state-owned Yacimientos de Litio Bolivianos. Other notable players include China's CATL, the CBC consortium, Citic Guoan, and Russia's Uranium One Group. EAU Lithium, partially owned by ASX-listed Vulcan Energy Resources, has secured an agreement to test brines from three Bolivian salars using Vulcan's adsorption-type Direct Lithium Extraction (DLE) technology, known as Vulsorb. This technology underpins Vulcan's Lionheart project in Germany. Cosmos Exploration has acquired a 12-month exclusive option to purchase EAU Lithium for $150,000, capitalizing on EAU's exclusive right to use Vulsorb in Bolivia