Blog Entry
May 20, 2026
Beyond Lithium: Bolivia’s New Critical Minerals Frontier
By Claudia S. de Windt, Ricardo Saucedo and Paulina Perez
In the midst of its worst economic crisis in four decades, marked by shortages of foreign currency, fuel and growing social unrest, Bolivia is increasingly relying on mining as a strategic sector for economic recovery and international investment. However, Bolivia’s critical minerals opportunity is not only a geological challenge, but an institutional one
Today, the global energy transition is driving unprecedented demand for critical minerals, placing Bolivia – with its share of the Andean copper belt and Precambrian geology - at the center of a new geopolitical and economic moment. The recent agreement between Bolivia and the United States on critical minerals, particularly lithium, reflects the strategic role the country could play in the energy transition, the digital era, and the defense industry.
Although lithium has become Bolivia’s most internationally recognized resource, it is far from the country’s only strategic mineral. Bolivia holds reserves of rare earth elements, indium, nickel, tantalum, antimony, and copper, among many of the critical minerals prioritized by the United States, the European Union, and China. The Atlas Minero de Bolivia identifies at least 884 mineral deposits, districts, and mining occurrences across the country, ranging from major industrial operations to largely unexplored mineralized areas.
Mining is deeply embedded in the country’s culture and has shaped its history, society, and politics from pre-Columbian times to the present. Historically, Bolivia’s mining model has been largely extractive, from Potosí silver to tin and now to lithium and critical minerals, while the state has often faced challenges in effectively regulating and industrializing the sector. Current unrest, growing concerns over democratic stability, and demands by Potosi’s Federation of Mining Cooperatives highlight the political and economic importance mining continues to hold in the country.
At the same time, this new phase of mining cannot replicate older extractive models. Modern mining must be innovative, socially inclusive, technologically advanced, and environmentally responsible if it is to contribute to sustainable development and generate long-term benefits for local populations.
Recent moves by foreign companies such as Canada-based Metalero Mining Corp. further reflect growing interest in Bolivia as an emerging critical minerals jurisdiction. At the same time, projects in Santa Cruz such as La Cruz–Pico Suto, Cerro Manomó, and Rincón del Tigre have raised concerns among Indigenous communities and environmental groups regarding consultation processes, forest impacts, and environmental oversight.
The Chiquitanía region, believed to hold one of Bolivia’s highest concentrations of critical minerals and rare earth elements, is also home to biodiverse ecosystems, forests, rivers, and multiple Indigenous communities. La Cruz–Pico Suto allegedly advanced without proper consultation of Guarayo, Chiquitano, and Ayoreo communities, while Cerro Manomó and Rincón del Tigre involve large rare-earth and strategic mineral zones in ecologically sensitive areas. Indigenous communities and environmental defenders have expressed concerns regarding possible contamination and impacts on forests and water resources.
As mining expansion increasingly shifts from Bolivia’s traditional highland regions toward the eastern lowlands, communities have expressed concern that the country could reproduce some of the historical environmental governance challenges associated with mining in the Andes, including pollution, weak regulatory frameworks and oversight, land conflicts – including tensions with agricultural producers, another major pillar of Bolivia’s economy - , and limited local benefits. These tensions are further complicated by overlaps with indigenous territories and agricultural areas.
In order for Bolivia to position itself strategically within the global energy transition, major governance and structural challenges must still be addressed. Much of Bolivia’s mining sector remains labor-intensive, cooperative-based, and technologically outdated. In response, the government has increasingly emphasized four strategic pillars: industrialization, technology transfer, diversification of international partners, and sovereignty over natural resources. These may be part of the answer, but for Bolivia to become a strategic supplier of critical minerals, investors must truly understand the country’s institutional and social context and integrate environmental and social frameworks into their operations. Strengthening governance, transparency, regulatory modernization, institutional capacity, sustainability standards and community engagement will be essential to ensuring that mining development contributes to long-term economic resilience and inclusive growth.
Bolivia has a real opportunity, but ultimately, beyond a geological challenge, it faces an institutional one. Its future will depend less on the size of its deposits than on whether it can break with a historical pattern of exporting raw materials and instead build stronger institutions, expand industrial capacity, improve coordination and implementation capacity, and ensure that investors are capable of anticipating and managing environmental and social dynamics while generating sustainable development.
The Chiquitanía region, believed to hold one of Bolivia’s highest concentrations of critical minerals and rare earth elements, is also home to biodiverse ecosystems, forests, rivers, and multiple Indigenous communities. La Cruz–Pico Suto allegedly advanced without proper consultation of Guarayo, Chiquitano, and Ayoreo communities, while Cerro Manomó and Rincón del Tigre involve large rare-earth and strategic mineral zones in ecologically sensitive areas. Indigenous communities and environmental defenders have expressed concerns regarding possible contamination and impacts on forests and water resources.
As mining expansion increasingly shifts from Bolivia’s traditional highland regions toward the eastern lowlands, communities have expressed concern that the country could reproduce some of the historical environmental governance challenges associated with mining in the Andes, including pollution, weak regulatory frameworks and oversight, land conflicts – including tensions with agricultural producers, another major pillar of Bolivia’s economy - , and limited local benefits. These tensions are further complicated by overlaps with indigenous territories and agricultural areas.
In order for Bolivia to position itself strategically within the global energy transition, major governance and structural challenges must still be addressed. Much of Bolivia’s mining sector remains labor-intensive, cooperative-based, and technologically outdated. In response, the government has increasingly emphasized four strategic pillars: industrialization, technology transfer, diversification of international partners, and sovereignty over natural resources. These may be part of the answer, but for Bolivia to become a strategic supplier of critical minerals, investors must truly understand the country’s institutional and social context and integrate environmental and social frameworks into their operations. Strengthening governance, transparency, regulatory modernization, institutional capacity, sustainability standards and community engagement will be essential to ensuring that mining development contributes to long-term economic resilience and inclusive growth.
Bolivia has a real opportunity, but ultimately, beyond a geological challenge, it faces an institutional one. Its future will depend less on the size of its deposits than on whether it can break with a historical pattern of exporting raw materials and instead build stronger institutions, expand industrial capacity, improve coordination and implementation capacity, and ensure that investors are capable of anticipating and managing environmental and social dynamics while generating sustainable development.
Claudia S. de Windt
Claudia de Windt is an international lawyer, political scientist, and senior executive with nearly 25 years of leadership in environmental law, sustainability, and governance in the multilateral and private space.She is a founder and Chief Executive of the Inter-American Institute on Justice and Sustainability (IIJS, LLC). She brings expertise in sustainability strategy and diplomacy, enterprise risk management, regulatory compliance, multistakeholder processes, ESG and safeguards. De Windt has led complex international operations, designed capacity building programs, and guided organizations through governance, policy, and sustainability transformations. Her areas of sectoral knowledge include natural resources, minerals and metals governance.
Ricardo Saucedo Bornstein
Ricardo Saucedo Borenstein is a lawyer, he completed his university studies at the Private University of Santa Cruz and holds a master's degree in Environmental Engineering and Management. He was the founder of the Bolivian Society of Environmental Law, and served as Secretary of Sustainable Development of the Prefecture of Santa Cruz and as a member of the Organization of American States Environmental Law Advisory Group., Saucedo, was an environmental advisor for several municipal governments in the country, he has also been a legal specialist in ISO 14000 certification audits and trained in Environmental Law, both for the School of Judges of Bolivia and for the Training Institute of the Public Ministry of the same country. He is a published author and has contributed to the development of legislation and natural resource management policies both within and outside his country.
Paulina Perez Lopez
Paulina Perez is a graduate from the Pennsylvania State University, where she earned a B.A. in International Political Economy. She currently serves as a Policy Analyst at the Inter-American Institute on Justice and Sustainability (IIJS) in Washington, D.C., where she supports research and policy work related to sustainability, governance, critical minerals, and international development in Latin America and the Caribbean.Her academic and professional interests focus on natural resource governance, international affairs, sustainable development, and the geopolitical implications of the global energy transition. Through her work at IIJS, she has contributed to research and analysis on critical minerals, environmental governance, climate-related policy, and responsible business practices in the region.Her broader interests include Latin American politics, international organizations, and the intersection of sustainability, governance, and economic development