Bloomberg News

Bolivia to Revoke Glencore Tin Mine Lease, Mining Minister Says

June 14, 2012

Bolivian Mining Minister Mario Virreira said the government intends to revoke a lease granted to Glencore International AG to operate a tin and zinc mine in the southwest of the country, state information agency ABI said.

State mining company Comibol, which owns the mine, will become the operator of the asset along with workers cooperatives pending community approval, ABI said. The lease is operated by Glencore unit Sinchi Wayra.

Morales nationalized Baar, Switzerland-based Glencore’s Huanuni tin smelter in 2007 and an antimony smelter in 2010 in a series of expropriations since he came to power in 2006 that have included natural gas wells held by Repsol YPF SA and Total SA.

To contact the reporter on this story: Sara Shahriari in La Paz at sshahriari@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.


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