Bolivia will Nationalize one of the World’s Largest Metal Reserves

2012.07.09 - 13:55:10 /

Bolivia will Nationalize one of the World’s Largest Metal ReservesHAVANA, Cuba.- Bolivia’s Evo Morales confirmed his government’s decision to nationalize the Mallku Khota reserves of indium and iridium, located in the Department of Potosi and considered one of the largest reserves of those metallic ores, so far being exploited by Canada’s South American Silver (SAS).

The decision implies the exploitation of the Mallku Khota reserves by Bolivia’s Mining Coorporation (COMIBOL) and the cease of the Canadian SAS monopoly.

“Nationalization is our Obligation,” said Morales, cited by regional media. He said that he had proposed the nationalization of the reserves last year, but there were some problems to implement it as he referred to differing opinions about the measure among groups of the local population.


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