LatinNews Daily Report - 21 June 2012

MINING | Colquiri nationalisation decreed. On 20 June, in the absence of President Evo Morales (who is in Brazil to attend the UN Conference on Sustainable Development [Rio+20]), Vice President Alvaro García Linera signed a decree nationalising the Colquiri tin/zinc mine in La Paz, controlled by Sinchi Wayra, a subsidiary of Switzerland’s Glencore. The decree follows a ten-point deal struck on 20 June with two rival groups of miners, Federación Sindical de Trabajadores Mineros de Bolivia (FSTMB) and the national confederation of mining cooperatives (Fencomin), who had clashed over the development of the mine. García Linera told reporters that the government will take 120 days to determine the amount of compensation for Glencore.

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