For several weeks there have been reports that the Bolivian government may seek to nationalise several privately operated mines, including Sinchi Wayra’s Colquiri zinc-tin mine. Sinchi Wayra is a subsidiary of Glencore. However in a recent interview with Reuters the country’s mining minister, Jose Pimental, emphasised that any change in the status of the operation would be effected by negotiation.
"We are discussing with the company the possibility of shifting from a leasing agreement to a shared risk agreement with a majority participation by the state” he said. In an earlier report he had suggested that the Colquiri and other concessions, including the Porco zinc mine, would be rescinded as early as 1 May.
Colquiri has an annual production capacity of some 6,000 tpy of low grade tin concentrates and ITRI estimates from official figures that it produced 2,026 tonnes on tin-in-concentrate in 2010. Currently all concentrates from the mine are believed to be exported.
