Bolivia will nationalize the Swiss Glencore. Cooperative societies herald a “national conflict”
12-06-2012 Pulso – Noticias
In 2007 and 2010, President Evo Morales also expropriated another two smelting companies from Glencore
Juan Ramón Quintana, Presidency Minister, representing the Government lead by Evo Morales, has announced that Colquiri mining company will be nationalized. The mine is located west Bolivia and is the property of a Glencore’s subsidiary.
The Government officer stated that the decision was made during a meeting held with Bolivian Mining Workers Unions of Colquiri town located at La Paz District; however the date the nationalization will be executed has not been informed.
The Swiss origin company – Glencore – has been operating several mines in Bolivia through its subsidiary Sinchi Wayra that controls Colquiri company that mines Zinc and Tin in a deposit that approximately employs 400 blue-collar workers.
“The Government (…) has decided to nationalize Colquiri mine, a private company owned by Sinchi Wayra, subsidiary of Glencore mining company”, the Minister stated.
Between 2007 and 2010 the Evo Morales’s administration also expropriated two Glencore’s foundries. In that opportunity the company filed legal actions to “try to overturn the measure.
However, leaders of National Federation of Mining Companies Cooperative Associations, a social group with high influence in Bolivian Government and with important capacity to make calls for social demonstrations, have expressed their rejection to the nationalization of their work areas and have cautionary advised that they will respond with roads blockage. Main leader of this Federation, Albino García, stated to local media that a “national conflict” will rise and the sector he represents will be out on the streets and the roads on demonstrations if their work areas are affected. Since his arrival to the head position in Government, the President of Bolivia, Evo Morales, has nationalized several companies in different industrial sectors such as hydrocarbons, electricity, telecommunications, mining, and cement, amongst others.
