(Yicai Global) July 26 -- Infund Holding's stock price hit the upper trading limit after the Chinese investor and developer of non-ferrous mineral resources announced it will invest in a 30,000-ton a year lithium carbonate project in Bolivia.

The Zhuhai-based company's shares [SHE:002141] gained 10 percent today to close at CNY3.8 (55 US cents) each.

Infund, China's Junengyongtuo Technology Development and Bolivia's state-owned Yacimientos de Litio Boliviano penned a deal on July 24, Infund said in a statement yesterday. YLB develops basic chemical resources in Bolivia's salt fields and salt lakes.

The partners will develop the project at Salt Lake Uyuni, using Infund's 'absorption' lithium extraction technology and Junengyongtuo's lithium ion enrichment techniques.
No other project details such as investment amounts, stake holdings and production start date were disclosed.

Bolivia has the world's most lithium resources. Salt Lake Uyuni, a salt marsh, may have the world's biggest reserves at over 9 million tons, according to a US Geological Survey estimate in 2017.

The three firms will also work together to set up a new energy industry investment fund, through equity investment and capital markets, to draw industrial chain enterprises into Bolivia, focusing on three sectors: power batteries, battery materials, and energy storage, Infund said.

Infund also said the parties intend to set up the world's first specialized lithium industry university in the Bolivian capital of La Paz, or another city, to train professional and technical personnel for the country's lithium sector.