Four companies are reported to have bid in a second tender for refined tin from Bolivia’s Empresa Metalúrgica Vinto (EMV), the results of which are due to be announced today. 800 tonnes of refined tin are on offer this week, following the sale of 1,700 tonnes on 23 April.
However EMV may subsequently switch away from a tender system to the negotiation of medium-term (six-month) sales contracts with traders. "That would make it easier for us to not be calling for bids every month, which would be a relief" CEO Francisco Infantes told the BN Americas news agency yesterday.
Glencore International and Cooper Trading, who were successful bidders at the first tender, are among the four companies bidding in the current offering.
BN Americas reported last week that the Colquiri tin-zinc mine in La Paz department mine, also controlled by Glencore, had resumed shipments of tin concentrates to the Vinto plant, following a temporary halt related to payment delays. The smelter was expropriated from Glencore by the Bolivian government in February this year.
Glencore’s Bolivian subsidiary Sinchi Wayra recently announced plans to invest US$144mn through 2009 in its projects in Bolivia, including a tailings dam expansion at Colquiri. Sinchi Wayra is Bolivia’s largest miner with several zinc, lead, tin, gold and silver mines in production.
