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Gold/Mining/Energy : Golden Eagle Int. (MYNG)

MYNG 0.0700

+5.7%

Feb 21 4:00 PM EST

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To: Jim Bishop who wrote (13391)	9/25/1998 12:27:00 PM
From: EricE	Read Replies (2) of 34075

Mining news from Bolivia... Zinc Price Drop Costs Bolivia US$20mn - Bolivia September 25, 1998 Bolivia had lost almost US$20mn in revenue because of reduced exports of zinc at lower prices following the Asian economic crisis, said acting mining deputy-minister Alvaro Perez del Castillo. All metal prices had fallen, but Bolivia was most affected by zinc's tumble, he added. He said the government was extremely worried about current problems in mining because the country depended highly on the sector - 42% of its foreign earnings came from mining. The problems did not have a short-term solution, and recovery would take two years. He added Bolivian mining products were competitive at world level. He said gold was recovering slowly, but steadily, silver was profitable and the price was also recovering slowly. Co-operative and small-scale miners were worst affected by the problems, and to help the government was providing those sectors with financial support from the EU by donating equipment with a higher grade of technology, improving training and knowledge about marketing minerals. The government was also working on re-activating mining in Bolivia's west. Source: El Diario, Bolivia

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