Bolivia Eyes Mine Nationalization

Discussions remain underway with Bolivia’s government amidst reports that the government will nationalize the Swiss-owned Glencore International Colquiri mine, located in the Inquisivi province, say sources familiar with the process. A number of parties are involved in the discussions, including miners, unions, cooperatives and the government. Last year, Glencore withdrew a $475m offer for CST Mining Group’s interest in Peruvian copper project Mina Justa, following a failure to agree on an offtake deal, said people close to the transaction. And in May, Bolivia’s government nationalized its electricity grid, with the government’s Empresa Nacional de Electricidad (ENDE) absorbing 99% of the shares of Empresa Transportadora de Electricidad, previously owned by Spain’s Red Electrica.