jan 1, 1992 - FMC (previously LITHCO) cancelled the contract with Bolivia and decided to make a deal with Argentina

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This eventually led to an international call for bids in
which three different firms presented their projects: Sochimiq (Chile), COPLA (Bolivia) and
Lithco, which had now changed name to FMC (Obaya, 2019, p. 29). The latter won and a
similar contract to the previous one was signed in 1992. Only a few days later, the Bolivian
congress decided that the amount of tax should be raised from 10% to 13%, even though the
contract stated that this could not be changed (Orellana, 1995). After months of negotiations,
FMC decided to cancel the contract and instead made a deal with neighbouring Argentina to
extract lithium from salt flats in the province of Catamarca (Obaya, 2019, p. 29).

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