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Andean Group - September 2013 (ISSN 1741-4466)

ECONOMY: Moving again on mining

President Evo Morales this month promulgated a new law (403) permitting the State to seize idle mining concessions from private companies without compensation. While in line with his government’s nationalisation drive – a core tenet of the 2009 constitution, Morales’s latest attempt at boosting the mining sector comes amid renewed calls for the restructuring of state-owned mining company, Corporación Minera de Bolivia (Comibol). The move also comes as his Movimiento al Socialismo (MAS) government is sending out mixed messages regarding compensation for foreign companies whose assets have been seized, which could further leave investors jittery.

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