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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (22801)	10/16/2006 1:06:21 PM
From: Mr. Aloha	Read Replies (4) of 78416

<< Bolivia is not nationalizing the industry. The only thing that it is doing is to takeover mines that are not being developed or "invested in" by foreigners. A big difference. >> I think that was the plan announced earlier this month, but the announcement yesterday changes the plan to full nationalization: iht.com Bolivia to nationalize mines following deadly clash by miners Bolivia President Evo Morales on Sunday announced plans to nationalize Bolivia's mines as part of an overhaul of the South American country's mining regulations after a violent clash earlier this month between rival miners' groups that killed 16 people. Morales nationalized the South American nation's oil and gas reserves on May 1, giving international companies six months to cede majority control of their Bolivian operations to the state or leave the country. "We started with hydrocarbons, and the next step are the minerals," Morales said while giving away tractors to local farmers in the town of Challapata, 120 miles south of the capital La Paz. "There will be some surprises with tin, silver and gold. These minerals must pass to the Bolivian state under the social control of the Bolivian people. That is the next urgent step we must take." Newly appointed Mining Minister Guillermo Dalence said Sunday the nationalization plan would be launched on October 31, the anniversary of the first nationalization of mines during a national revolution in 1952. Morales' words were a stronger reiteration of a nationalization plan he put forth immediately following the deadly battle Oct. 5-6 between independent and state-employed miners over the right to work the Huanuni tin mine. Then Morales had said the state would only expropriate mines where foreign operators had not invested sufficiently.

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