LA PAZ, BOLIVIA — The Bolivian government is “building a new relation between business and the state,” Bolivia’s Mining and Metallurgy Minister Cesar Navarro tells The Northern Miner in a sit-down interview in his government office.
True to his word, the president acted where he believed the partnership had broken down. Troops were sent to occupy the Vinto tin smelter, where the government said that commodity giant Glencore (LON: GLEN) had failed to carry out promised investments.
The vehicle for the new relationship is the Mining Production Contract, which private investors can sign with state mining company Comibol, which owns or has first say over the most prospective ground.
In January, Navarro signed the first such deal for an exploration project with Vancouver-based New Pacific Metals (TSXV: NUAG; US-OTC: NUPMF). The 45-year contract is due to receive legislative approval by mid-year.
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