Andean Group - February 2013 (ISSN 1741-4466)

President Evo Morales has trumpeted the start of operations at the El Mutún iron ore mine in the eastern region of Santa Cruz, seven months after India’s Jindal Steel & Power terminated its US$2.1bn contract to develop 50% of the mine – the biggest investment by any foreign company in a single project in Bolivia. The start of operations at El Mutún follows other key developments in the mining sector including the start of Bolivia’s first pilot lithium plant and the activation of the Karachipampa processing plant, both in Potosí. However, the president’s claims that the sector is enjoying its “best moment” are undermined by latest figures showing a 7% slump in mining export volumes in 2012.

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