The Bolivian government and Glencore subsidiary Sinchi Wayra are discussing the conversion of lease contracts on two mines into joint ventures with a 50% state participation, according to a Metal Bulletin report yesterday. The discussions centre on the Colquiri tin and zinc mine in La Paz department and the Porco zinc, lead and silver mine in Potosí department.
The government and company executives have been trying to reach an agreement over the possibility of setting up joint ventures for the mines with state mining company Comibol since the middle of last year, a source in the mining and metallurgy ministry told MB.
The Colquiri mine produces some 2,500 tpy of tin-in-concentrate and until last year all of the mine’s production was treated at the Vinto smelter. ITRI understands that there is some potential to expand the mine and to recover tin and zinc from tailings. The 50% state ownership target is in line with Bolivia’s draft new constitution, which requires this level of government participation for all mining operations in the country.
