In April 2017, in accordance with Article 26 of Law No. 535: Mining and Metallurgy Law, the Bolivian Plurinational Legislative Assembly approved Law No 928 to create Bolivian Lithium Deposits (YLB) a National Strategic Public Company.
YLB is responsible for carrying out the activities of the entire production chain of lithium, including prospecting, exploration, exploitation, beneficiation, installation, implementation, start-up, operation and administration of evaporite resources, inorganic chemical complexes, industrialisation, and commercialisation.
Moreover, YLB develops the basic chemical processes of its evaporite resources with a 100% state participation for the production and commercialisation of lithium chloride, lithium sulphate, lithium hydroxide, and lithium carbonate; potassium chloride, potassium nitrate, potassium sulphate, derivative and intermediate salts, and other products of the evaporite chain. Meanwhile, subsequent processes of semi-industrialisation, industrialisation, and processing of waste may be carried out by national or foreign private companies but always maintaining the State majority participation.
In June 2017, the president of Bolivia signed Supreme Decree 3227 to regulate the YLB’s functioning. This Decree defines YLB as a company with its own legal personality, indefinite duration, and administrative, financial, commercial, legal, and technical management autonomy. One hundred percent of the company’s assets belong to the central level of the State under the supervision of the Minister of Energies.