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The Mineral Industry of Bolivia in 2012 - USGS Mineral Resources

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2012 Minerals Yearbook bolivia

U.S. Department of the Interior U.S. Geological Survey

February 2015

The Mineral Industry of Bolivia By Steven T. Anderson Bolivia’s primary role in the global mineral industry was as a supplier of minerals in raw form (ores and concentrates). The country was estimated to have produced 8.7% of the world’s total mine output of tin in 2012; silver, 5%; boron1 and zinc, about 3% each; and antimony, lead, and tungsten,1 about 2% each. Bolivia was the leading exporter (by way of pipelines to Argentina and Brazil) and the third-ranked producer of natural gas in South America. Bolivia’s mineral resources have not been fully explored or developed, so there are substantial uncertainties concerning the country’s mineral resources. In addition to the minerals listed above, Bolivia is thought to have globally relevant resources of cadmium, chromium, gold, indium, iron ore, lithium, nickel, palladium, platinum, potash, and tantalum. In 2012, about 72% of Bolivia’s mine output of tin was estimated to have been smelted or refined within the country. In 2011 (the latest year for which data were available), substantial proportions of the country’s mined bismuth, copper, gold, and silver; some antimony; and small amounts of a few other mined minerals were also estimated to have been smelted or refined within the country. Most of the volume of Bolivia’s mineral production, however, was exported in raw form by rail to ports on the coasts of Argentina, Brazil, Chile, and (or) Peru and then shipped to processing facilities located in Asia, Europe, and North America, including approximately all the country’s mine output of tantalum, tungsten, and zinc (including any contained indium and other byproduct minerals). In addition, Bolivia exported about 78% of its marketable production of natural gas (table 1; Arce-Burgoa and Goldfarb, 2009; Ministerio de Minería y Metalurgia, Bolivia, 2012, p. 11, 17, 19–20, 34–37; BP p.l.c., 2013, p. 22, 28; Carlin, 2013a, b; Crangle, 2013; George, 2013; Guberman, 2013; Shedd, 2013; Tolcin, 2013). Minerals in the National Economy According to preliminary estimates for 2012 and estimates for 2011, the value of output of the mineral extraction sector (mining and quarrying plus production of crude petroleum and natural gas) of Bolivia accounted for about 14.65% (about $4 billion2) of the country’s gross domestic product (GDP) in 2012 compared with 15.5% (about $3.7 billion) in 2011. In 2012, the oil and gas sector accounted for 7.33% ($2 billion) of the GDP compared with 5.9% ($1.4 billion) in 2011, and the mining and quarrying sector accounted for 7.32% (about $2 billion) of the GDP compared with 9.6% ($2.3 billion) in 2011. In terms of the tonnage of production in 2012, zinc led all the nonfuel minerals in Bolivia, but silver was the leader in terms of the value of production. Preliminary data indicated that 1

U.S. data were withheld to avoid disclosing company proprietary data. Where necessary, nominal values have been converted from Bolivian bolivianos (Bs) to U.S. dollars (US$) at a slightly revised estimated annual average exchange rate of about Bs6.89=US$1.00 for 2011 and Bs6.86=US$1.00 for 2012. All values are nominal, at current prices, unless otherwise stated. 2

the value of the country’s marketed production of silver was about $1.2 billion followed by that of zinc (about $750 million), tin (about $340 million), lead (about $160 million), and gold (about $113 million). Boron materials led all industrial minerals in Bolivia (not including manufactured products, such as cement) in terms of both the tonnage and the value of production. In terms of the value of production in 2012, the country’s top three industrial minerals were boron (valued at about $30 million), barite ($3.1 million), and amethyst ($1.5 million) (International Monetary Fund, 2013; Servicio Nacional de Registro y Control de la Comercialización de Minerales y Metales, 2013a; Instituto Nacional de Estadística, Bolivia, undated). In constant 1990 prices, Bolivia’s real GDP increased by an estimated 5.2% in 2012 and by the same percentage increase in 2011. The real value of the country’s production of crude petroleum and natural gas increased by 14.7% in 2012 after increasing by about 7.2% in 2011; that of petroleum refinery products increased by about 6.1% in 2012 after increasing by 2.5% in 2011; that of nonmetallic mineral products increased by about 2.65% in 2012 after increasing by 11% in 2011; and that of metallic and industrial minerals decreased by 5% in 2012 after increasing by 3.4% in 2011. In 2012, the increase in the real value of production of the oil and gas extraction sector was tied with that of the financial services sector as the leading contributors to the increase in Bolivia’s real GDP (Instituto Nacional de Estadística, Bolivia, undated). According to preliminary data from the Banco Central de Bolivia (BCB), Government revenue from royalties charged to private mining companies was $141 million in 2012 compared with about $173 million in 2011, and annual revenues from other taxes on the mining sector could have been somewhat greater than revenues from payments of royalties. Taxes on the hydrocarbons sector accounted for a greater share of Government tax revenue than mining royalties, however, and Government sales of hydrocarbons following a series of significant nationalizations in the sector that began in 2006 were the leading source of Government revenue. In 2012, Government revenue from sales of hydrocarbons (mostly natural gas) increased to about $5.8 billion from about $4.5 billion in 2011, and that from taxes on the hydrocarbon sector increased slightly to $357 million from $353 million in 2011. In 2005 (before the wave of nationalizations in the hydrocarbon sector), most of the Government revenue from the hydrocarbon sector came from taxation ($858 million), and revenue from Government sales of hydrocarbons was just $77 million. In 2006, tax revenue from the sector increased by 75% (to $1.5 billion) primarily owing to more effective tax collection from private companies by the Government. In addition, revenue from Government sales of hydrocarbons increased by about 545% (to $497 million) in 2006 as the Government began a process of nationalization to own a greater share of

Bolivia—2012 3.1

the value of production in the sector. In 2007, tax revenue from the hydrocarbon sector decreased by about 33% (to about $998 million) as the number of private companies decreased whereas Government revenue from sales of hydrocarbons increased by another 242% (to $1.7 billion) because the Government increased its ownership share of the sector. In 2008, tax revenue from the hydrocarbon sector decreased to $359 million, which is similar to that of 2012, and Government revenue from the sale of hydrocarbons increased by yet another 118% (to about $3.7 billion) (Banco Central de Bolivia, 2013b, p. 175; International Monetary Fund, 2013). Preliminary data from the BCB indicate that the flow of foreign direct investment (FDI) into the exploration for and production of crude petroleum and natural gas increased to $946 million in 2012 from $384 million in 2011, and the flow of FDI into the mining and quarrying sector decreased to $219 million from about $238 million in 2011. These two sectors led all economic sectors in attracting FDI to Bolivia. In 2012, the inflow of FDI into the oil and gas sector accounted for 63% of the total flow of FDI into the country compared with 37% in 2012, and the inflow of FDI into the mining and quarrying sector accounted for about 14.5% compared with 23% in 2011. In 2012, the leading source of total FDI into the Bolivian economy was the United States (not including the amount of U.S. FDI in Bolivia from U.S. companies registered as being located in the Cayman Islands, which was the thirdranked source of FDI in Bolivia); Brazil was the second-ranked source of FDI into the Bolivian economy. In 2012, the amount of FDI in the oil and gas sector represented an almost 19-fold increase from a bottoming out of FDI in the sector at about $50 million in 2006. The historically low level of FDI in the oil and gas sector in Bolivia in 2006 could have been in response to the beginning of the nationalization process in the sector that year. FDI in the oil and gas sector in Bolivia was only $140 million in 2005, however, and it had been decreasing by about $108 million per year from a level of about $463 million FDI in the sector in 2002 (Schipani and Thomas, 2012; U.S. Commercial Service, 2012, p. 63–66; Banco Central de Bolivia, 2013a, p. 28–29). For Bolivia, the value of trade in minerals may include the value of some transportation and (or) pipeline services. A possible estimate of the mineral trade balance (not including imports of many chemical and pharmaceutical substances, construction materials, or primary materials for agriculture that may have been heavily or exclusively mineral based) increased to $7.6 billion in 2012 from a revised balance of about $5.8 billion in 2011. The leading mineral export of Bolivia was natural gas, and the value of natural gas exports increased to about $5.5 billion from $3.9 billion in 2011. This dramatic (41%) increase was owing mostly to a 107% increase in the value of exports of mineral fuels (mostly natural gas) to Argentina, and partially to a 23% increase in the value of mineral fuel exports to Brazil during this timeframe. The country’s leading mineral import expenditures were for fuel oils and lubricants, and the cost of its imports in this category increased to about $1.2 billion from a revised value of about $1.1 million in 2011. Silver continued to be the leading nonfuel mineral export (by value), but the value of Bolivia’s exports 3.2

of silver (mostly contained in concentrates) decreased to $1.2 billion from about $1.4 billion in 2011 owing mostly to a decrease in the average price of silver exports during this timeframe. The cost of “imports of mineral raw materials and products for industrial use” increased to about $690 million from about $650 million in 2011 (Banco Central de Bolivia, 2013a, p. 41–45, 61, 68). In 2011 (the latest year for which data were available), the total labor force employed in mining and quarrying increased to about 70,450 from about 68,920 in 2010. Of these workers, about 58,090 were officially registered with a cooperative (56,950 in 2010), about 5,730 were employed by a state-owned mining company (mostly by Corporación Minera de Bolivia [COMIBOL]) (5,690 in 2010), 4,650 were estimated to be employed by medium-scale mining companies (including private or joint ventures with COMIBOL) (4,400 in 2010), and at least 1,980 were small-scale and artisanal miners (1,880 in 2010) (Ministerio de Minería y Metalurgia, Bolivia, undated). Government Policies and Programs On January 25, 2009, Bolivians approved a new Constitution, which was enacted on February 7. The new Constitution contains provisions that could allow the Government to exercise greater control over the management of Bolivia’s natural resources, including exploration, production, processing, transportation, and marketing of minerals. How the principles of the Constitution are implemented, however, and the timing of implementation appear to depend upon the drafting and passing of subsequent regulations by the Government. In accordance with the principles of the new Constitution, the Government worked out a first draft of a new mining law to replace the Mining Code of 1997 (law No. 1777 of March 17, 1997), and the draft mining law was completed in January 2011. In March 2011, the Government established a commission to finalize the new mining law. In March 2013, the commission affirmed that it was 90% in agreement on revisions to the draft law (Ministerio de Minería y Metalurgia, Bolivia, 2010a; 2010c, p. 25, 37–39, 64–65, 67, 75–78, 93, 114–116, 124; 2011b, p. 7, 2011c, p. 18, 122, 139–143; 2013e; Farchy, 2012; Mapstone, 2012; U.S. Commercial Service, 2012, p. 3, 48–54; Coeur d’Alene Mines Corp., 2013, p. 18, 23; Pan American Silver Corp., 2013, p. 43, 101). In accordance with the principles of the new Constitution and the expected provisions of the new mining law (despite the new mining law still being preliminary), it appeared likely that mining companies operating mineral concessions in the country would have to change over to a new mining contract system by sometime in 2013 or 2014. These new contracts could be either leasing or joint-venture contracts with the Government, depending on the level of state participation. Some companies (such as Coeur d’Alene Mines Corp. of the United States) reportedly had similar types of contracts already in place with the Government, regional governments, and (or) local cooperatives. With the issuing of Supreme Decree No. 0726 on December 6, 2010, the Government reaffirmed that there would be a transition period (of indeterminate length) to move from the existing mining concessions structure towards public-private contracts that would be consistent with the Constitution and the u.s. geologicAl survey minerals yearbook—2012

draft mining law. The negotiation of such contracts between the Government and at least a few of the most significant mining companies in Bolivia (including Glencore International plc of Switzerland) was ongoing through the end of 2012 (Ministerio de Minería y Metalurgia, Bolivia, 2010a, b; Quiroga, 2011; Business News Americas Ltda., 2012d, g; Ramos, 2012; U.S. Commercial Service, 2012, p. 46; Coeur d’Alene Mines Corp., 2013, p. 6, 18, 22–23; Glencore International plc, 2013, p. 71, 160; Pan American Silver Corp., 2013, p. 43, 101). During all of 2012, the official mining law was still the Mining Code of 1997. In 2007, this mining code was modified to allow for restructured royalties (mining-specific taxes) and other taxes to be charged to mining companies. The 2007 law (law No. 3787 of November 24, 2007) includes measures that (a) require companies to pay an additional income tax of 12.5% if the prices of the minerals produced exceed certain thresholds (specific to each mineral), and (b) restructure both the royalty rates and the percentages of redistributions (to local, State, or Federal entities) of Government royalty and tax revenue from private mining companies in the country. During 2012, the main law governing private investment (including FDI) was still law No. 1182 of September 17, 1990, even though some provisions of this investment law may conflict with related provisions in the new Constitution. The main environmental law was still law No. 1333 of March 27, 1992 (Ministerio de Minería y Metalurgia, Bolivia, 2007; 2010c, p. 57, 95; 2011b, p. 39; 2011c, p. 135; Kosich, 2011; U.S. Commercial Service, 2012, p. 10, 23–24, 44–46). During 2012, the Hydrocarbons Law of 2005 (law No. 3058 of May 17, 2005) was still in effect. On May 2, 2007, operations contracts came into effect for private oil and gas companies in accordance with the terms of the Government’s program to nationalize the sector. These operations contracts were approved as part of the Hydrocarbons Law of 2005, which also allows for two other new types of contracts between private companies and the state—production-sharing contracts and association contracts. Under all three types of contracts, oil and gas reserves and any production belong to the state, and the contractor (private company) must deliver the full amount of production to the state-owned oil and gas company, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). These contracts were designed to replace risk-sharing contracts, which existed under the previous Hydrocarbons Law of 1996 (law No. 2689 of April 30, 1996). In effect, the contractors bore all of the risks and costs for the exploration and production of hydrocarbons under the risk-sharing contracts but were allowed to claim ownership of production and sell it on the open market, subject only to paying royalties and taxes. On May 1, 2006, the President issued Supreme Decree No. 28701 to nationalize the hydrocarbon resources of Bolivia. Following this decree, the Government negotiated operations contracts with existing private producers of oil and natural gas in the country, and the contracts were approved by the Government on April 23, 2007. These contracts still require the private contractors to bear the risks and costs of production. In addition, however, the private companies cannot claim ownership of oil and gas reserves in the country and must rely on reimbursement by the Government to cover any recoverable costs and (or) be compensated for any

profits they might earn (Vargas, 2007; Quiroga, 2011, 2012; U.S. Commercial Service, 2012, p. 20–23, 44–48, 53–56; Petróleo Brasileiro S.A., 2013, p. 43–50, 163). In May 2012, COMIBOL was reportedly close to finalizing new joint-venture contracts for several mines operated by Sinchi Wayra S.A. (a Bolivian subsidiary of Glencore), including the company’s Colquiri tin and zinc mine, but the Government instead nationalized the Colquiri Mine on June 22, 2012. Glencore protested the Government’s action, and the company continued to seek fair compensation for the nationalization through the end of 2012. In July 2012, Jindal Steel & Power Ltd. (Jindal) of India pulled out of the El Mutun iron ore project, and the company reported difficulties in reaching agreements with the Government concerning energy (including natural gas) provision and infrastructure (including roads that would be adequate to handle heavy equipment and transportation of mine output) to and from the proposed mining site. Although Jindal had not completely assessed the value of its assets involved in the project, the company estimated that it had invested about $90 million before pulling out. Jindal reported that it would seek international arbitration to recover this amount. Through the end of 2012, however, there was no information available concerning any progress in the company’s bid for compensation (Beltrán, 2011c–f; 2012b; Hotter, 2011; Toledo, 2011; Business News Americas Ltda., 2012a, b, d, g; Crabtree and Schipani, 2012; Engineering and Mining Journal, 2012; Farchy, 2012; ITRI Ltd., 2012e, h; Mapstone, 2012; Ramos, 2012; Romig, 2012; Schipani, 2012; Schipani and Thomas, 2012; Singh, 2012; U.S. Commercial Service, 2012, p. 47–48; Glencore International plc, 2013, p. 49, 71, 160; Viswanathan, 2013). In August 2012, the Government nationalized South American Silver Corp. of Canada’s Malku Khota silver and indium project, in which the company had reportedly invested about $25 million. In early October 2012, the Government reportedly announced that it would not pay compensation to South American Silver for the expropriation of Malku Khota, and, on October 23, the company delivered a letter to the Government to dispute the project’s nationalization (without compensation). South American Silver reported that it intended to file for international arbitration of the dispute under the Arbitration Rules of the United Nations Commission on International Trade Law if a settlement was not reached by the end of a cooling-off period on April 23, 2013. Obtaining compensation for nationalized properties in Bolivia was made more difficult in 2007, when the Government withdrew from the World Bank’s International Centre for the Settlement of Investment Disputes (Crabtree and Schipani, 2012; Kosich, 2012; MercoPress, 2012; Lismore, 2012; Ramos, 2012; Schipani, 2012; Schipani and Thomas, 2012; Singh, 2012; South American Silver Corp., 2013, p. 2). Production Data on mineral production are in table 1. Of the minerals produced in Bolivia that accounted for 1% or more of global production in 2012, only production of mined antimony, lead, and tungsten changed by greater than 10% compared with that of 2011. Production of antimony increased by 29% during this

Bolivia—2012 3.3

timeframe, possibly owing to new production from the Sorpresa Mine. Production of tungsten increased by 13%, but information concerning the exact source of this increased production was not available. Tungsten production was entirely controlled by small-scale mining operations and cooperatives that did not publically release production information. Production of lead decreased by 21%. The value of mine output of lead, silver, and zinc in concentrates at the San Cristobal Mine decreased, possibly owing mostly to a decrease in the volume of lead production from the mine, as the San Cristobal Mine was by far the leading producer of lead in the country. There were also some large percentage changes in production of minor, precious, and other metals, but these did not involve globally significant volumes of production. The estimated decrease in indium production was based upon a reported decrease in production of zinc in concentrates in the country, including at some mines exploiting deposits that were estimated by Ishihara and others (2011) to contain significant amounts of indium (table 1; Clarke, 2012; Ministerio de Minería y Metalurgia, Bolivia, 2012, p. 1; Servicio Nacional de Registro y Control de la Comercialización de Minerales y Metales, 2013a; Sumitomo Corp., 2013, p. 3–4; Glencore International plc, 2013, p. 49, 71, 160). In 2012, reported production of ametrine (bolivianite) decreased by almost 100%, and that of amethyst, by 80%. The drastic decreases in reported production of these gemstones could have been in response to attempts by the Government to increase control of exports of minerals and to charge royalties on mineral production in Bolivia. Information was not available concerning any other significant changes in the production of industrial minerals in 2012 compared with that of 2011. In 2012, production of crude petroleum and natural gas was estimated to have increased by about 16% and 14%, respectively, compared with that of 2011, and this appeared to be mostly in response to increased demand in Argentina for Bolivian natural gas. The volume of Bolivia’s natural gas exports to Argentina was estimated to have increased by 25%, and those to Brazil, by 4%; domestic consumption of natural gas (including for vehicular use) was also estimated to have increased (table 1; Jacobs, 2012, 2013; Ministerio de Minería y Metalurgia, Bolivia, 2012, p. 1; Ministerio de Hidrocarburos y Energía, Bolivia, 2013, p. 15–19; Servicio Nacional de Registro y Control de la Comercialización de Minerales y Metales, 2013a, b). Structure of the Mineral Industry Table 2 is a listing of the major mineral industry facilities, together with the major owners and (or) operators. The vast majority of the mining workforce in Bolivia consists of miners working for small-scale mining operations or cooperatives; the combined output of these small-scale operations often greatly exceeds that of the few medium-scale mines. In 2011 (the latest year for which data were available), small-scale and cooperative miners accounted for 100% of mined bismuth, industrial minerals, and tungsten production and about 76% of antimony, 72% of gold, about 41% of tin, 29% of silver, about 24% of zinc, and 14% of copper and lead; mediumscale mining operations accounted for the remainder of mined metal production in Bolivia, except for copper and tin. State-owned mining companies accounted for about 48% 3.4

of mined tin production and about 24% of mined copper production. Owing to nationalization in the oil and gas sector since 2006 and through 2010, many of the leading natural gas and petroleum fields in the country were at least 50% owned by the Government in 2012 (table 2; Ministerio de Minería y Metalurgia, Bolivia, 2012, p. 1). Mineral Trade In 2012, Bolivia exported about 10.1 billion cubic meters of natural gas to Brazil and 4.5 billion cubic meters of natural gas to Argentina compared with about 9.7 billion cubic meters and 3.6 billion cubic meters, respectively, in 2011. In 2011, the presidents of both Argentina and Bolivia inaugurated the new Juana Azurday Integration Gas (GIJA) pipeline to connect the Margarita Field (Bolivia) with the Refinor refinery in Campo Duran (Argentina), and use of the GIJA pipeline contributed to Bolivia approximately doubling its exports of natural gas to Argentina in 2011 compared with that of 2010. In 2012, use of the GIJA pipeline for the entire year contributed to further increasing exports of natural gas to Argentina (Casallas, 2011b; Fox News Latino, 2011; BP p.l.c., 2012, p. 28; 2013, p. 28; Banco Central de Bolivia, 2013a, p. 61–63; Ministerio de Hidrocarburos y Energía, Bolivia, 2013, p. 15–19). In decreasing order of export value in 2012, the country’s top six nonfuel mineral exports were silver (in concentrates and metal), zinc (in concentrates), tin (in concentrates and metal), lead (in concentrates), gold (in concentrates and dore), and antimony (in antimony trioxide, concentrates, and metal); by far the leading industrial mineral exports were, in order of export value, ulexite and boric acid. According to preliminary data on tonnage of mineral exports, exports of antimony increased to about 5,052 metric tons (t) in 2012 compared with a revised amount of 3,995 t in 2011, and exports of gold, to about 2.2 t compared with about 1.9 t in 2011; the volume of exports of the other four leading metals exports (according to value of exports) all decreased during this timeframe. Exports of zinc decreased to 382,357 t from a revised amount of 426,849 t in 2011; lead, to 77,517 t from a revised amount of 99,963 t in 2011; tin, to 16,685 t from a revised amount of 17,223 t in 2011; and silver, to 1,199 t from a revised amount of 1,225 t in 2011. According to preliminary data and in decreasing order of export value, the top six leading country destinations for Bolivia’s combined nonfuel mineral exports in 2012 were the United States, Japan, China, Peru, the United Kingdom, and Brazil (Ministerio de Minería y Metalurgia, Bolivia, 2012, p. 12, 19, 31–36; Banco Central de Bolivia, 2013a, p. 39–52). Commodity Review Metals Antimony.—Raptor Ventures LLC (a subsidiary of Planet Resource Recovery, Inc. of the United States) expected to eventually ramp up production at the new Sorpresa Mine to about 300 metric tons per month (t/mo) of ore with an estimated antimony (Sb) content of the high-grade ore in the deposit of between 58% and 67% Sb, but the mine’s production of crude antimony ore from September 2010 through the end of u.s. geologicAl survey minerals yearbook—2012

November 2010 totaled just 300 t of ore. In December 2010, Planet Resource Recovery announced that the initial production of 300 t of ore from the Sorpresa Mine was to be shipped to a buyer in China to be assayed for actual antimony content and value. Accurate information was not available regarding antimony production (if any) at the Sorpresa Mine in 2011 or 2012, and the production capacity in table 2 is estimated based on the company’s plan to produce 300 t/mo of ore and an assumption of an average Sb content of the mined ore of about 60%. In 2010, Raptor Ventures entered into a joint venture with Franklin Mining Inc. and MidWest General of Arizona LLC of the United States to recover antimony from the tailings and discarded ore from the closed San Antonio de Turiri (Turiri) Mine, which was also 100% owned by Planet Resource Recovery (at the time). In May 2011, Shrewton Investments Ltd. of South Africa acquired a 70% ownership interest in the Turiri Mine and reestablished mine roads, tested the remaining tailings dumps, sampled outcrops, and reopened the Justo Juez shaft at the mine. As of 2010, the deposit underlying the Turiri Mine had reportedly been estimated to have a high-grade ore body bearing grades of between 60% and 67% Sb and a low-grade ore body consisting of between 5% and 10% Sb; also, it was estimated that less than 5% of Turiri’s antimony resources had been mined. Information was not available concerning whether primary production of antimony took place at the Turiri Mine in 2012, however (Planet Resource Recovery, Inc., 2010a–c; Clarke, 2012; Shrewton Investments Ltd., 2012). Iron Ore and Manganese.—When Jindal pulled out of El Mutun iron-ore project in mid-July 2012, the company reportedly had already stockpiled an estimated 40,000 t of ore at Puerto Quijarro, but information was not available concerning whether or when any of this ore would be transported any further. In October 2011, the state-owned steel company Empresa Siderúrgica del Mutún (ESM) reportedly exported about 10,000 t of iron ore from El Mutun to a steel company in Paraguay, Aceros del Paraguay S.A. (ACEPAR), and ESM had expected to resume exporting iron ore to ACEPAR in 2012 (after the level of the Paraguay River had risen sufficiently). It appears that whatever iron ore and manganese Jindal produced (through sampling and testing) during its development of El Mutun accounts for almost all that produced in Bolivia. As reasons for leaving the project, the company cited not receiving access to the necessary lands, a lack of an approved contract for a sufficient supply of natural gas, and a lack of sufficient infrastructure (among other concerns) to be able to develop the site and to export the mine output. The Government, however, stated that the company pulled out of the project owing to poor planning and insufficient funding. After the pullout by Jindal, it appeared that any further development of El Mutun project would be overseen by ESM. In 2012, ESM began proposing multinational agreements for the development of El Mutun, and most of the companies that expressed the greatest interest were from China. In May 2010, the China Development Bank reportedly offered a loan of $15 billion to help finance development of El Mutun, including construction of a railroad and infrastructure at the Puerto Busch Port (on the Paraguay River) to be able to transport iron ore from El Mutun (Kosich, 2010; MercoPress, 2011; Beltrán, 2011b, c, f; 2012c; Business

News Americas Ltda., 2012a, b; Crabtree and Schipani, 2012; Singh, 2012; Guerra, 2013; Jamasmie, 2013; Mallén, 2013; Los Tiempos.com, 2013; Ministerio de Minería y Metalurgia, Bolivia, 2013i; Viswanathan, 2013). Lead, Silver, and Zinc.—According to the Silver Institute, the average annual price of silver in 2012 decreased to $31.15 per troy ounce from $35.12 per troy ounce in 2011 owing to a 4% increase in global mine production of silver. Most of this increase was accounted for by mine production of silver as a byproduct of lead and zinc mining, combined with a 6% decrease in demand by the global silver fabrication sector (Thomson Reuters GFMS, 2013). By value of mine output in 2012, the leading mine in Bolivia was the San Cristobal Mine. Production of silver in concentrates took place in both the lead circuit and the zinc circuit at the mine. In 2012, the San Cristobal Mine was reportedly the fifthranked producer of silver in the world and the sixth-ranked producer of lead and zinc. In 2011 (the latest year for which data were available), Empresa Minera San Cristóbal S.A. (MSC, a 100%-owned subsidiary of Sumitomo Corp. of Japan) had combined exports of lead, silver, and zinc that accounted for more than one-half of the total value of all Bolivia’s mineral exports, and MSC reportedly paid about $150 million in taxes and royalties to the Government. As part of the revisions to the mining law that were ongoing in 2012, it was was thought likely that the Government would increase mining royalty rates, but the Government was not expected to nationalize the San Cristobal Mine. A major issue at the San Cristobal Mine was the availability of sufficient water resources, which might have been a limiting factor on MSC’s ability to expand production. In 2012, Sumitomo reported the results of a study that indicated that the water used by MSC was unsuitable for agriculture, irrigation, or human consumption, and that the underground water level will recover naturally after some period of time of decreased use. Sumitomo also reported that it planned to continue to invest in infrastructure that would allow it to increase the amount of water recycling at San Cristobal (table 1; Quiroga, 2011; Empresa Minera San Cristóbal S.A., 2012; Ramos, 2012; Sumitomo Corp., 2012, 2013). The second-ranked producer of zinc in Bolivia was Sinchi Wayra, and some analysts estimated that Sinchi Wayra could have contributed about 1% to Glencore International’s net profits of about $4 billion in 2011 (the latest year for which an estimate was available). In November 2012, the shareholders of Xstrata plc of Switzerland approved a merger with Glencore International, but the deal was subject to regulatory approval in China, the European Union, South Africa, and the United Kingdom. Following nationalization of the Colquiri Mine, Sinchi Wayra continued to negotiate with the Government and local mining cooperatives for lease and joint-venture contracts with respect to the company’s remaining mines in Bolivia, and production appeared to continue uninterrupted at these mines through the end of 2012. At the Colquiri Mine, however, production was interrupted following its nationalization because representatives of mining cooperatives blockaded the roads around the mine during protests aimed at forcing the Government to follow through in allocating certain parts of the Colquiri Mine to certain mining cooperatives. During the first

Bolivia—2012 3.5

2 weeks of June, production had already been stopped because of an occupation by miners working for local cooperatives who wanted access to new areas of the mine (table 2; Hotter, 2011; Beltrán, 2012b; Business News Americas Ltda., 2012c, d, g, i; Farchy, 2012; ITRI Ltd., 2012b, h–j; Mapstone, 2012; Romig, 2012; Glencore International plc, 2013, p. 13, 51, 53, 71, 160; Ministerio de Minería y Metalurgia, Bolivia, 2013g). Tin.—Owing to production from the newly nationalized Colquiri Mine during the second half of 2012, COMIBOL reportedly increased its production to 10,247 t of mined tin compared with about 9,683 t in 2011. In October, within a week of restarting operations at Colquiri following protests and road closures by some members of mining cooperatives, the state-owned mining company reportedly achieved pre-nationalization levels of tin production at the Colquiri Mine; Sinchi Wayra had increased production of tin in concentrates by 16% in 2011 compared with that in 2010 and by another 59% during the first quarter of 2012 compared with that during the first quarter of 2011. In Bolivia overall, however, total mine production of tin decreased by 3.3% in 2012 compared with that of 2011, mostly owing to a decrease in production at COMIBOL’s Huanuni Mine during this timeframe. In 2011, the Government awarded a $50 million contract to Vicstar Union Engineering (a joint venture between Shenzhen Vicstar Import and Export Co. of China and Yantai Design and Research Engineering Co. Ltd. of China) to construct a new plant that would be able to process 3,000 metric tons per day of tin ore from the Huanuni Mine. Once completed, this new plant could increase the estimated production capacity at Huanuni to between 13,000 and 14,000 metric tons per year (t/yr) of tin in concentrates. In 2012, construction of the processing plant at Huanuni was estimated to be completed sometime in 2014 (table 1; Ministerio de Minería y Metalurgia, Bolivia, 2011a; 2011b, p. 7–10, 16–17, 23, 27, 33–38; 2011c, p. 37–39, 55–57, 123, 132; 2013a; Business News Americas Ltda., 2012c, i; ITRI Ltd., 2012a–d, f, i, j; 2013b, c). According to ITRI Ltd., production of tin metal at the Vinto smelter increased to 11,350 t compared with 10,007 t in 2011; this increase was partially offset by a decrease in production of tin metal by Operaciones Metalúrgicas S.A. to 3,276 t compared with about 3,335 t in 2011. The Government, together with Ausmelt Ltd. of Australia, was in the process of installing a new tin-smelting furnace and plant at Vinto, which could expand the designed production capacity to 18,000 t/yr of tin metal, but actual production by the Vinto tin smelter was dependent on feed of tin in concentrates, which was sourced mostly from the Huanuni Mine. The Ausmelt furnace at the Vinto smelter was originally expected to be commissioned sometime in 2012. It was reported that the start of construction of the Huanuni plant was being delayed, however, possibly owing to a shortage of senior qualified staff for the project. As a result, commissioning of the Ausmelt furnace at Vinto was expected to be delayed until at least the end of 2013 owing to an expected lack of sufficient feed to operate it efficiently (table 1; Ministerio de Minería y Metalurgia, Bolivia, 2011a; 2011b, p. 7–10, 16–17, 23, 27, 33–38; 2011c, p. 37–39, 55–57, 123, 132; 2013c; 2014; Beltrán, 2012a; ITRI Ltd., 2012a, c, d, f, g; 2013b–d).

3.6

Tungsten.—On January 25, 2012, the Government nationalized La Himalaya tungsten mine. The license to the mining concession had been held by Empresa Minera Barrosquira Ltda. (Embas) since 1995, but the mine had been operated by the Cerro Negro mining cooperative since it occupied La Himalaya Mine in October 2007 with the help of some members of other local community groups. In early 2012 (following the nationalization of La Himalaya Mine), an executive of another private company (Embas) and the Government reportedly did not expect this nationalization to indicate an increased probability of further nationalizations of Bolivian mines in the near future, and the Government repeatedly announced its ongoing interest in attracting more private investment to the mining sector (Ore, 2009; Mining Journal, 2012; Mindat.org, 2013; Ministerio de Minería y Metalurgia, Bolivia, 2013b). Industrial Minerals Boron, Lithium, and Potash.—In 2012, COMIBOL was reportedly still completing construction of a pilot plant for processing brines in the Salar de Uyuni and considering production of sample-sized volumes of lithium carbonate for testing. The pilot plant’s designed output capacity was 500 t/yr of lithium carbonate, but there were no reports of marketable production of lithium in Bolivia during the year, and the date for a possible startup of plant operations was estimated to be close to the end of 2012 or the beginning of 2013. In addition to the pilot lithium carbonate plant, COMIBOL planned to develop a small-scale mine and to construct a pilot plant that would have the capacity to produce about 12,000 t/yr of potash (potassium chloride) at the Salar de Uyuni. This mine and these plants were expected to be the first stage of a project to eventually produce lithium carbonate and potash on a larger scale by the end of 2015 (including proposed plans to construct new facilities with capacities to produce 30,000 t/yr of lithium carbonate and 700,000 t/yr of potash), as well as other minerals from the salar, such as boron and magnesium. The complex chemistry of the brines of the Salar de Uyuni, however, as well as environmental factors, such as possibly higher rainfall and lower rates of evaporation than in other salars where lithium was already being produced, led some analysts to project that producing lithium carbonate on a commercial scale from this salar could be more challenging and costly than elsewhere (table 1; Beltrán, 2011a; Ministerio de Minería y Metalurgia, Bolivia, 2011b, p. 8, 14–15, 26–28; 2011c, p. 21–25, 66, 123, 146–147; 2013d, f, h; Watts, 2011a, b; Dyson, 2012; Pabón, 2012; Agence France-Presse, 2013; Alpert, 2013; Council on Hemispheric Affairs, 2013; Schipani, 2013). In July 2012, COMIBOL signed a joint-venture agreement with a Republic of Korea consortium led by Korea Resources Corp. (Kores) and POSCO to construct a new pilot plant in Bolivia to produce lithium cathodes and possibly electrolytes and lithium-ion batteries. Other companies that had shown significant interest in developing and (or) investing in the development of lithium and other mineral resources contained in the brines of Bolivia’s salars included the Bolloré Group of France, CITIC Group of China, Mitsubishi Corp. of Japan, u.s. geologicAl survey minerals yearbook—2012

Outotec Oyj of Finland, and Sumitomo; the Governments of China, Finland, and Venezuela also presented investment proposals (table 1; Business News Americas Ltda., 2012e; Dyson, 2012; Pabón, 2012; Agence France-Presse, 2013; Alpert, 2013; Council on Hemispheric Affairs, 2013; Ministerio de Minería y Metalurgia, Bolivia, 2013d, f, h; Schipani, 2013). Mineral Fuels Natural Gas and Petroleum.—In 2012, FDI in the oil and gas sector (which increased by approximately 145% from that of 2011) was almost entirely targeted at expanding production at gasfields that had already been discovered prior to the beginning of nationalizations in the sector in 2006, and production of natural gas was expected to continue to increase through 2015 as a result of this investment. In 2012, Repsol YPF, S.A. of Spain (the leading investor in Bolivia’s natural gas sector), together with investment partners BG plc of the United Kingdom and Pan American Energy LLC of Argentina, invested in increasing production to a planned output of about 15 million cubic meters per day of natural gas at the Margarita gasfield by the end of 2013 from an estimated rate of production of about 2.5 million cubic meters per day of natural gas at Margarita in December 2011. In 2012, Petróleo Brasileiro S.A. (Petrobras) of Brazil, together with Total S.A. of France and state-owned Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) of Bolivia, invested in increasing production at the Sábalo gasfield to about 19 million cubic meters per day of natural gas by mid-2013 compared with a rate of about 14 million cubic meters per day of natural gas there at the end of 2011. The output from these two expansion projects was expected to account for almost all the projected increase in Bolivia’s natural gas production through 2015. In January 2012, the Government revoked Pan American Energy’s 25% ownership interest in the Caipipendi Block (including the Margarita field) citing a lack of investment, but then announced on May 28 that it had never enforced this nationalization decree and was still in negotiations with Pan American Energy concerning the company’s planned investment in Bolivia (U.S. Energy Information Administration, 2011, 2013; Fowler, 2012; Jacobs, 2012; Parks, 2012; Quiroga, 2012; Casallas, 2013; Petróleo Brasileiro S.A., 2013, p. 48–52; Repsol YPF, S.A., 2013, p. 24–25, 185, 205–206, 211). Since the beginning of nationalizations in the oil and gas sector in 2006 and through 2012 (at least), investment in exploration in the sector appeared to have been insufficient to replace natural gas reserves that had been extracted in Bolivia, and the only notable natural gas discovery during this timeframe (with possible long-run production potential) was in the Aquío Block. In April 2011, the Government approved Total’s declaration of commerciality for the Aquío Block. Following Government approval, Total claimed that further drilling indicated that this recent discovery was actually an extension of the Incahuasi natural gas deposit of the adjacent Ipati Block, which was discovered in 2004, and that it could require at least $800 million more in investment to bring the Aquío Block into production. Information concerning a timeline for initial production of natural gas from the Aquío Block was not available. In recognition of the country’s need for greater

investment in exploration, the president of YPFB announced that the Government would conduct about 15 new bidding rounds, including for tenders to explore in the Alegine, Cedro, Huacare, La Guardia and Madre de Dios regions, which were estimated to contain significant natural gas and oil resources (Casallas, 2011a; Total S.A., 2011; 2013, p. 22; Jacobs, 2012; Place, 2012). Although Bolivia had made some progress in increasing domestic consumption of natural gas, including instituting domestic natural gas subsidies and processing some of its own natural gas for vehicular use, Bolivia continued to rely mostly on exports to Argentina and Brazil to sell its natural gas at competitive prices. New natural gas discoveries in Brazil, however, as well as potential development of shale gas in Argentina and Brazil, could limit Bolivia’s future export markets for natural gas. Fortunately for Bolivia, increases in consumption of natural gas have kept pace with increases in supply in Brazil, mostly owing to ongoing shortages in supply of hydropower in that country, and what appeared to be a high level of investor interest in developing shale gas resources in Argentina faded quickly after Repsol YPF’s operations (including shale gas exploration and development) in the country were nationalized in April 2012. Still, some analysts consider the future of these two export markets for Bolivian gas to be more uncertain than Chile would be, because Chile is one of the leading natural gas importers in Latin America and does not have as many potentially cheaper alternatives to importing natural gas from Bolivia as Argentina or Brazil could have in the near future. Because it lost sovereign access to the Pacific Ocean to Chile in the War of the Pacific (1879–1883), however, Bolivia has consistently demanded fully sovereign access to the Pacific Ocean as part of any deal to allow a pipeline to be built and any exports of natural gas to Chile to happen. In 2013, the Government of Bolivia filed suit against Chile in the International Court of Justice to regain access to the ocean, but Chile continued to maintain that it was open to granting Bolivia access to Chile’s ports but not to giving up sovereignty (Casallas, 2011a, b; 2012a, b; U.S. Energy Information Administration, 2011, 2013; Business News Americas Ltda., 2012f, h; Fowler, 2012; Jacobs, 2012, 2013; Lenton, 2012). Reserves and Resources In 2009, the Government contracted with the Ryder Scott Co. petroleum consultants to quantify and certify Bolivia’s reserves of natural gas and petroleum. Data on the country’s reserves of natural gas and petroleum had apparently not been updated at the national level since 2005. Ryder Scott listed Bolivia’s current proven natural gas reserves at 282 billion cubic meters compared with the previous figure of about 750 billion cubic meters, and both B.P p.l.c. and the U.S. Energy Information Administration continued to report the same revised estimate of Bolivia’s natural gas reserves through the end of 2012. In 2011, however, the Government announced that Total’s discovery in the Aquio Block (and declaration of commerciality) meant a 30% increase in Bolivia’s proven reserves of natural gas (above the Ryder Scott estimate), and the president of YPFB claimed that the country’s reserves of natural gas had increased to about 320 billion cubic meters by mid-2013. mostly owing to the

Bolivia—2012 3.7

expansions of the Margarita and Sábalo gasfields (U.S. Energy Information Administration, 2011; 2013; Jacobs, 2012; BP p.l.c., 2013, p. 20; Kueffner, 2013). Ishihara and others (2011) estimated that the total amount of indium resources contained in Bolivian tin-polymetallic base-metal deposits could be more than 12,000 t of In content. They considered these resources to be inferred indium resources for Bolivia, however, and the figure may include some indium that had already been extracted. The figure also appears to include indium resources at inactive mines or in deposits that are not currently being mined. More accurate information concerning how much indium in the country might be economically exploitable without developing new mines or rehabilitating closed mines, or what current reserves of indium might be, was not available. Outlook The Fraser Institute’s ranking of Bolivia as a desirable destination for investment by private companies in the mining and quarrying sector was 90 out of 96 jurisdictions worldwide in 2012, but the Government was nonetheless able to find some partners to invest in certain projects, including agreements with Kores and POSCO to invest in development of the capacity to produce lithium carbonate and potash in the Salar de Uyuni; with CITIC Group to investigate the possibility of doing the same in the Salar de Coipasa; with Vicstar Union Engineering to invest in expanding the production of mined tin at the Huanuni Mine; with Ausmelt to expand production of tin metal at the Vinto smelter; and with the China Development Bank to help with financing the possible development of the El Mutun iron ore project. In addition, Planet Resource Recovery appeared to be investing in increasing mine production of antimony in Bolivia, and Sumitomo, in production of lead, silver, and zinc in the country. In 2013, the Japan Bank for International Cooperation approved a $210 million loan for MSC to expand production of lead, silver, and zinc at the San Cristobal Mine, but information concerning a definitive timeline for completion of the expansion or what the eventual changes in the tonnages of production of lead, silver, or zinc could be, was not available. In 2013, the country’s production of silver and zinc appeared likely to increase by about 5% from that of 2012, and production of mined tin was on pace to increase by about 4% before the strike at the Huanuni Mine that took place in May 2013. The expansion of tin production capacity at the Huanuni Mine was expected to be completed sometime in 2014, and the Vinto smelter will reportedly be ready to increase production of tin metal depending on how much additional feed is provided by the Huanuni Mine (ITRI Ltd., 2013a; Japan Bank for International Cooperation, 2013; Wilson, McMahon and Cervantes, 2013, p. 12–14). Oil and gas companies and consultants surveyed by the Fraser Institute ranked Bolivia as having the most substantial barriers to private investment in exploration for and production of crude petroleum and natural gas among 147 jurisdictions worldwide in 2012, and the country has consistently ranked at or near the bottom of this opinion poll since at least 2008. Owing primarily to increases in production at the Margarita and Sábalo fields, Bolivia’s production of natural gas (and associated crude 3.8

petroleum) could continue to increase through 2015, but then it could begin to decrease unless Total can bring production from the Aquio Block onstream by then. In 2012, Total was still testing wells in the Aquio Block, and information concerning whether or when production could begin there was not available (Total S.A., 2011; 2013, p. 22–24; Angevine, Cervantes, and Oviedo, 2012, p. 5, 14, 18–19, 60–62; Petróleo Brasileiro S.A., 2013, p. 48–52; Repsol YPF, S.A., 2013, p. 24–25, 185, 205–206, 211). Market risk factors for companies investing in expanding natural gas production in Bolivia could include a lack of sufficient pipeline capacity to supply growing demand in Argentina (at least in the short to medium term), increasing capacities to import and regassify liquefied natural gas in both Argentina and Brazil, possible development of shale gas resources in Argentina and Brazil, and continuing development of oil and natural gas discoveries off the shores of Brazil. In March 2010, the Governments of Argentina and Bolivia agreed on gradual increases of natural gas exports to Argentina from 7.7 million cubic meters per day to about 19 million cubic meters per day by 2014, about 25 million cubic meters per day by 2019, and a maximum of about 27 million cubic meters per day by 2021. Most of the increase in production of natural gas in Bolivia for export to Argentina is expected to come from the Margarita field. Also, increasing Bolivia’s natural gas exports to Argentina to 27 million cubic meters per day will likely require completion of the Gasoducto del Noreste Argentino (GNEA) pipeline. By the end of 2012, however, Argentina’s national energy company Energía Argentina S.A. was still attempting to tender a contract for constructing the GNEA pipeline. The smaller GIJA pipeline is expected eventually to be connected to the GNEA pipeline, and it is unclear whether pipelines that existed at the end of 2012 could allow Bolivia’s exports of natural gas to Argentina to increase to agreed-upon levels of anywhere between 10.4 million cubic meters per day and 13 million cubic meters per day in 2013 (Fox News Latino, 2011; U.S. Energy Information Administration, 2011, 2013; Jacobs, 2012, 2013; Lenton, 2012). References Cited Agence France-Presse, 2013, Bolivia to launch lithium-ion battery plant: Agence France-Presse, September 8. (Accessed September 9, 2013, at http://www.energy-daily.com/reports/Bolivia_to_launch_lithium-ion_battery_ plant_999.html.) Alpert, Emily, 2013, Bolivia opens first lithium plant on edge of Uyuni salt flats: Los Angeles Times, January 4. (Accessed March 7, 2013, at http://www.latimes.com/news/world/worldnow/la-fg-wn-bolivia-lithiumplant-20130103,0,2879002.story.) Angevine, Gerry, Cervantes, Miguel, and Oviedo, Vanadis, 2012, Fraser Institute global petroleum survey—2012: Vancouver, British Columbia, Canada, The Fraser Institute, June 26, 191 p. Arce-Burgoa, O.R., and Goldfarb, R.J., 2009, Metallogeny of Bolivia: SEG Newsletter no. 79, October, p. 1, 8–15. (Accessed July 11, 2011, at http://www.osvaldoarce.com/Metallogeny.html.) Banco Central de Bolivia, 2013a, Boletín del sector externo 48—Diciembre 2012: La Paz, Bolivia, Banco Central de Bolivia, August 20, 128 p. Banco Central de Bolivia, 2013b, Boletín estadístico 358—Junio 2013: La Paz, Bolivia, Banco Central de Bolivia, November 15, 197 p. Beltrán, Harvey, 2011a, CITIC to finance lithium exploration at Coipasa salt flat— Bolivia: Santiago, Chile, Business News Americas Ltda., September 26, 1 p. Beltrán, Harvey, 2011b, ESM—Acepar resume iron ore negotiations: Santiago, Chile, Business News Americas Ltda., November 10, 1 p. Beltrán, Harvey, 2011c, Govt guarantees gas for El Mutún—Official says— Bolivia: Santiago, Chile, Business News Americas Ltda., November 28, 1 p. u.s. geologicAl survey minerals yearbook—2012

Beltrán, Harvey, 2011d, Govt will not nationalize mining companies—To form JV contracts—Bolivia: Santiago, Chile, Business News Americas Ltda., April 28, 2 p. Beltrán, Harvey, 2011e, Miners analyzing the benefits of nationalization— Bolivia: Santiago, Chile, Business News Americas Ltda., September 16, 1 p. Beltrán, Harvey, 2011f, No progress from ESM on El Mutún development— Bolivia: Santiago, Chile, Business News Americas Ltda., June 3, 1 p. Beltrán, Harvey, 2012a, EMV’s Ausmelt furnace to be up and running in H2— Bolivia: Santiago, Chile, Business News Americas Ltda., February 10, 1 p. Beltrán, Harvey, 2012b, Government cancels Glencore contract at Colquiri— Bolivia: Santiago, Chile, Business News Americas Ltda., June 20, 1 p. Beltrán, Harvey, 2012c, Santa Cruz community concerned over possible cancellation of El Mutún—Bolivia: Santiago, Chile, Business News Americas Ltda., July 3, 2 p. BP p.l.c., 2012, BP statistical review of world energy: London, United Kingdom, BP p.l.c., June, 45 p. BP p.l.c., 2013, BP statistical review of world energy: London, United Kingdom, BP p.l.c., June, 45 p. Business News Americas Ltda., 2012a, ESM analyzes direct contracting for El Mutún—Bolivia: Santiago, Chile, Business News Americas Ltda., August 3, 1 p. Business News Americas Ltda., 2012b, ESM to lead El Mutún development— Bolivia: Santiago, Chile, Business News Americas Ltda., July 24, 1 p. Business News Americas Ltda., 2012c, Fencomin—Government reach agreement to end Colquiri blockade: Santiago, Chile, Business News Americas Ltda., September 14, 1 p. Business News Americas Ltda., 2012d, Glencore receives Colquiri nationalization decree—Will seek compensation—Bolivia: Santiago, Chile, Business News Americas Ltda., June 22, 1 p. Business News Americas Ltda., 2012e, Kores-Posco consortium signs agreement with Comibol for lithium cathode project—Bolivia: Santiago, Chile, Business News Americas Ltda., March 29, 1 p. Business News Americas Ltda., 2012f, Latin America years away from shale production—Regional: Santiago, Chile, Business News Americas Ltda., October 11, 2 p. Business News Americas Ltda., 2012g, New mining contracts do not benefit companies—Expert says—Bolivia: Santiago, Chile, Business News Americas Ltda., August 10, 1 p. Business News Americas Ltda., 2012h, Petrobras sets gas supply record to meet soaring demand—Brazil: Santiago, Chile, Business News Americas Ltda., November 16, 1 p. Business News Americas Ltda., 2012i, Splitting Colquiri unwise—Former Comibol chief says—Bolivia: Santiago, Chile, Business News Americas Ltda., September 26, 1 p. Carlin, J.F., Jr., 2013a, Antimony: U.S. Geological Survey Mineral Commodity Summaries 2013, p. 18–19. Carlin, J.F., Jr., 2013b, Tin: U.S. Geological Survey Mineral Commodity Summaries 2013, p. 170–171. Casallas, David, 2011a, Analyst sees u-turn difficult once on LNG path— Bolivia: Santiago, Chile, Business News Americas Ltda., April 28, 1 p. Casallas, David, 2011b, Dozen-plus firms attend Chaco plant meeting—GIJA pipeline complete—Argentina-Bolivia: Santiago, Chile, Business News Americas Ltda., May 30, 1 p. Casallas, David, 2012a, Gas exports to buoy economy—Say Bolivia’s central bank—Regional: Santiago, Chile, Business News Americas Ltda., June 1, 1 p. Casallas, David, 2012b, Natural gas subsidies stymie alternative energies— Ministry—Bolivia: Santiago, Chile, Business News Americas Ltda., February 3, 1 p. Casallas, David, 2013, Repsol to lead non-YPFB hydrocarbons investment in Bolivia: Santiago, Chile, Business News Americas Ltda., January 30, 1 p. Clarke, Gerry, 2012, Antimony (trioxide!) on the watch list: Industrial Minerals, no. 540, September, p. 48–53. Coeur d’Alene Mines Corp., 2013, Form 10–K—Annual report for the year ended December 31, 2012: Coeur d’Alene, Idaho, Coeur d’Alene Mines Corp., February 21, 66 p. Council on Hemispheric Affairs, 2013, COHA in the public arena— January 3-11: Washington, DC, Council on Hemispheric Affairs, January 11. (Accessed March 7, 2013, at http://www.coha.org/coha-in-the-public-arenajanuary-3-11/.) Crabtree, James, and Schipani, Andres, 2012, JSP pulls out of Bolivian mine deal: The Financial Times [London, United Kingdom], July 18. (Accessed July 20, 2012, at http://www.ft.com/intl/cms/s/0/f9f48ac6-d0e8-11e1-8a3c00144feabdc0.html.)

Crangle, R.D., Jr., 2013, Boron: U.S. Geological Survey Mineral Commodity Summaries 2013, p. 32–33. Dyson, Jonathan, 2012, Bolivia steps up, in Critical materials for green energy— An Industrial Minerals publication: Metal Bulletin Ltd., September, p. 8–9. Empresa Minera San Cristóbal S.A., 2012, Study presented on the use of underground water resources by San Cristóbal: La Paz, Bolivia, Empresa Minera San Cristóbal S.A. press release, March 2. (Accessed December 19, 2012, at http://www.minerasancristobal.com/en/ study-presented-on-the-use-of-underground-water-resources-by-san-cristobal.) Engineering and Mining Journal, 2012; Bolivia ‘Nationalizes’ Colquiri Mine: Engineering and Mining Journal, v. 213, no. 7, July, p. 5. Farchy, Jack, 2012, Glencore warns Bolivia over mining: The Financial Times [London, United Kingdom], June 22. (Accessed June 25, 2012, at http://www.ft.com/intl/cms/s/0/8b7f9f82-bc83-11e1-a111-00144feabdc0.html.) Fowler, James, 2012, Repsol begins life after YPF by intensifying Latin American activity—Argentina—Regional: Santiago, Chile, Business News Americas Ltda., May 29, 2 p. Fox News Latino, 2011, Argentina, Bolivia inaugurate gas pipeline: FOX News Network, LLC., July 1. (Accessed January 1, 2012, at http://latino.foxnews.com/ latino/money/2011/07/01/argentina-bolivia-inaugurate-gas-pipeline/.) George, M.W., 2013, Silver: U.S. Geological Survey Mineral Commodity Summaries 2013, p. 146–147. Glencore International plc, 2013, Annual report 2012: Baar, Switzerland, Glencore International plc, March 22, 168 p. Guberman, D.E., 2013, Lead: U.S. Geological Survey Mineral Commodity Summaries 2013, p. 90–91. Guerra, Patricia, 2013, El Mutún tender likely to be awarded to Chinese company: Santiago, Chile, Business News Americas Ltda., September 13, 1 p. Hotter, Andrea, 2011, Glencore in talks with Bolivia on mining venture: The Wall Street Journal, May 5. (Accessed November 27, 2012, at http://online.wsj.com/article/SB100014240527487039927045763051900815 21836.html.) Instituto Nacional de Estadística, Bolivia, [undated], Bolivia—Crecimiento del producto interno bruto a precios constantes según actividad económica—Incidencia de las actividades económicas en el crecimiento del producto interno bruto a precios constantes—Producto interno bruto a precios corrientes según actividad económica: Instituto Nacional de Estadística. (Accessed December 16, 2013, at http://www.ine.gob.bo/indice/ general.aspx?codigo=40201.) International Monetary Fund, 2013, Bolivia, in World economic outlook database: International Monetary Fund, October 8. (Accessed November 30, 2013, via http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/index.aspx.) Ishihara, S., Murakami, H., and Marquez-Zavalia, M.F., 2011, Inferred indium resources of the Bolivian tin-polymetallic deposits: Resource Geology, v. 61, no. 2, p. 174–191. ITRI Ltd., 2012a, Bolivian production falls in first half: ITRI Ltd., August 15. (Accessed November 27, 2012, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2509.) ITRI Ltd., 2012b, Colquiri mine re-opens: ITRI Ltd., October 10. (Accessed November 27, 2012, at http://www.itri.co.uk/index.php?option=com_ zoo&task=item&item_id=2555.) ITRI Ltd., 2012c, Comibol production falling: ITRI Ltd., November 29. (Accessed September 30, 2013, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2605.) ITRI Ltd., 2012d, Comibol re-structuring resumes: ITRI Ltd., August 7. (Accessed November 27, 2012, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2502.) ITRI Ltd., 2012e, Deal close on Glencore Bolivian mines: ITRI Ltd., May 15. (Accessed November 27, 2012, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2432.) ITRI Ltd., 2012f, Delays to Bolivian expansion projects: ITRI Ltd., March 27. (Accessed November 27, 2012, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2391.) ITRI Ltd., 2012g, Fall in Vinto production: ITRI Ltd., January 31. (Accessed November 27, 2012, at http://www.itri.co.uk/index.php?option=com_ zoo&task=item&item_id=2325.) ITRI Ltd., 2012h, Glencore protests at Colquiri nationalization: ITRI Ltd., June 25. (Accessed November 27, 2012, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2464.) ITRI Ltd., 2012i, Glencore reports robust trading—Jump in tin production: ITRI Ltd., May 9. (Accessed November 27, 2012, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2425.)

Bolivia—2012 3.9

ITRI Ltd., 2012j, Production halted at Colquiri Mine: ITRI Ltd., June 12. (Accessed November 27, 2012, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2459.) ITRI Ltd., 2013a, Bolivian mine production increasing: ITRI Ltd., June 21. (Accessed June 21, 2013, at http://www.itri.co.uk/index.php?option=com_ zoo&task=item&item_id=2782.) ITRI Ltd., 2013b, Comibol production tops 10,000 tonnes: ITRI Ltd., March 7. (Accessed June 21, 2013, at http://www.itri.co.uk/index.php?option=com_ zoo&task=item&item_id=2689.) ITRI Ltd., 2013c, Huanuni mill expansion well advanced: ITRI Ltd., September 27. (Accessed September 30, 2013, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2869.) ITRI Ltd., 2013d, The top 10 tin producers in 2012: ITRI Ltd., February 28. (Accessed September 30, 2013, at http://www.itri.co.uk/ index.php?option=com_zoo&task=item&item_id=2685.) Jacobs, Justin, 2012, Bolivia’s gas conundrum: Petroleum Economist, v. 79, no. 4, May, p. 8–9. Jacobs, Justin, 2013, Bolivia’s fight for the sea: Petroleum Economist, v. 80, no. 5, June, p. 54. Jamasmie, Cecilia, 2013, Bolivia to open bids for world’s biggest iron ore deposit: Mining.com, September 2. (Accessed September 3, 2013, at http://www.mining.com/bolivia-to-open-bids-for-worlds-biggest-iron-oredeposit-63017/.) Japan Bank for International Cooperation, 2013, Loan for San Cristobal zinc, lead and silver mine expansion project in Bolivia: Tokyo, Japan, Japan Bank for International Cooperation press release NR/2013-103, November 5. (Accessed January 12, 2014, at http://www.jbic.go.jp/en/information/press/ press-2013/1105-15575.) Kosich, Dorothy, 2010, China may help Bolivia finance El Mutun: Mineweb Holdings Ltd., May 28. (Accessed April 21, 2011, at http://www.mineweb.com/ mineweb/content/en/mineweb-iron-and-steel?oid=105501&sn=Detail.) Kosich, Dorothy, 2011, President Morales annuls mining, banking and investment laws in Bolivia: Mineweb Holdings Ltd., May 2. (Accessed May 2, 2011, at http://www.mineweb.com/mineweb/content/en/ mineweb-political-economy?oid=126135&sn=Detail.) Kosich, Dorothy, 2012, Bolivia’s Morales threatens to “nationalize” Malku Kota silver project: Mineweb Holdings Ltd., July 9. (Accessed July 9, 2012, at http://www.mineweb.com/mineweb/content/en/mineweb-silver-news?oid= 154705&sn=Detail&pid=102055.) Kueffner, Stephan, 2013, Bolivia’s YPFB sees gas reserves lasting at least through 2023: Platts, McGraw Hill Financial, October 18. (Accessed January 22, 2014, at http://www.platts.com/latest-news/natural-gas/quito/ bolivias-ypfb-sees-gas-reserves-lasting-at-least-21708088.) Lenton, Christopher, 2012, Executive summary—Survey 2012—Results and analysis: Santiago, Chile, Business News Americas Ltda. Oil & Gas Intelligence Series, January, 2 p. Lismore, Siobhan, 2012, Latin American sentiment shifts towards mining: Industrial Minerals, no. 537, May, p. 18. Los Tiempos.com, 2013, Gobierno destina Bs 72,55 millones para mantenimiento de vía Mutún-Puerto Busch: Cochabamba, Bolivia, Editorial Canelas S.A., July 2. (Accessed January 17, 2014, at http://www.lostiempos.com/ diario/actualidad/economia/20130702/gobierno-destina-bs-7255-millonespara-mantenimiento-de-via-mutun-puerto_219101_472047.html.) Mallén, P.R., 2013, Bolivia announces partnership offer for Mutun iron mine— Biggest in country—After Indian company Jindal pulls out: International Business Times, IBT Media Inc., September 4. (Accessed January 9, 2014, at http://www.ibtimes.com/bolivia-announces-partnership-offer-mutun-ironmine-biggest-country-after-indian-company-jindal.) Mapstone, Naomi, 2012, Bolivia threatens Glencore mine control: The Financial Times [London, United Kingdom], June 12. (Accessed June 12, 2012, at http://www.ft.com/intl/cms/s/0/82b526-b42c-11e1-8fea-00144feabdc0.html.) MercoPress, 2011, Indian company to begin Bolivian iron-ore exports—A million tons the first year: Montevideo, Uruguay, MercoPress News Agency, February 14. (Accessed April 21, 2011, at http://en.mercopress.com/2011/02/14/indiancompany-to-begin-bolivian-iron-ore-exports-a-million-tons-the-first-year.) MercoPress, 2012, Bolivian seizes silver and indium mine operated by Canadian firm: Montevideo, Uruguay, MercoPress News Agency, August 3. (Accessed November 27, 2012, at http://en.mercopress.com/2012/08/03/ bolivia-seizes-silver-and-indium-mine-operated-by-canadian-firm.) Mindat.org, 2013, Himalaya Mine (Cooperativa Minera Cerro Negro)— Cantón Cohoni—Mt Illimani—Murillo Province—La Paz Department— Bolivia: Mindat.org, February 22. (Accessed January 17, 2014, at http://www.mindat.org/loc-157114.html.) 3.10

Mining Journal, 2012, La Himalaya nationalisation an ‘isolated case’ in Bolivia: Mining Journal, February 3, p. 4. Ministerio de Hidrocarburos y Energía, Bolivia, 2013, Anuario estadístico— Gestión 2012: La Paz, Bolivia, Ministerio de Hidrocarburos y Energía, June 19, 87 p. Ministerio de Minería y Metalurgia, Bolivia, 2007, Ley No. 3787: La Paz, Bolivia, Ministerio de Minería y Metalurgia, November 24, 8 p. Ministerio de Minería y Metalurgia, Bolivia, 2010a, Conclusiones del seminario taller nueva ley minera—Realizado del 7–10 de junio de 2010: La Paz, Bolivia, Ministerio de Minería y Metalurgia, June, 4 p. Ministerio de Minería y Metalurgia, Bolivia, 2010b, DS 0726 adecua concesiones mineras—Medida no afecta a operadores, garantizando el derecho a la explotación y las inversiones realizadas: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín minero no. 214, December 7, 2 p. Ministerio de Minería y Metalurgia, Bolivia, 2010c, Memoria anual 2006–2009: La Paz, Bolivia, Ministerio de Minería y Metalurgia, January, 126 p. Ministerio de Minería y Metalurgia, Bolivia, 2011a, Fue firmado contrato con empresa China para construcción: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín minero no. 277, July 7, 2 p. Ministerio de Minería y Metalurgia, Bolivia, 2011b, Informe de Gestión 2010: La Paz, Bolivia, Ministerio de Minería y Metalurgia, January, 49 p. Ministerio de Minería y Metalurgia, Bolivia, 2011c, Memoria anual 2010: La Paz, Bolivia, Ministerio de Minería y Metalurgia, March, 149 p. Ministerio de Minería y Metalurgia, Bolivia, 2012, Anuario estadístico minero metalúrgico 2011: La Paz, Bolivia, Ministerio de Minería y Metalurgia, February, 63 p. Ministerio de Minería y Metalurgia, Bolivia, 2013a, Colquiri y Huanuni deben triplicar producción de estaño para el nuevo horno Ausmelt de Vinto: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 105, December 2, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/ Documentos/Difusion/43.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013b, Decreto legaliza explotación de Mina Himalaya: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 80, June 27, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/Difusion/16.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013c, Gracias a los buenos ingresos trabajadores de la fundidora de Vinto reciben un increment de 2%: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 107, December 9, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/ Documentos/Difusion/45.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013d, Gran avance en la fábrica de catódos y baterías de litio en La Palca: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 100, October 15, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/Difusion/38.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013e, Ley minera ingresa en fase final existe un 90% de avance: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 63, March 11, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/Difusion/ Boletin006313.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013f, Planta de carbonato de litio consolida industrialización del Salar de Uyuni: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 55, January 3, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/Difusion/ Boletin005513.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013g, Porco y Bolivar se inyectan de inversion privada para fortalecer producción minera: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 82, July 2, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/ Difusion/19.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013h, Proyecto patriotico en minería busca exención tributaria para explotación de recursos evaporiticos en Uyuni: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 69, April 24, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/Difusion/5.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2013i, Renace explotación del Mutún con entrega de maquinaria nueva: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 59, February 4, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/Difusion/Boletin005913.pdf.) Ministerio de Minería y Metalurgia, Bolivia, 2014, La industrialización avanza—Vinto fundirá 17 mil toneladas de estaño en 2014: La Paz, Bolivia, Ministerio de Minería y Metalurgia boletín de prensa no. 113, January 20, 2 p. (Accessed January 21, 2014, at http://www.mineria.gob.bo/Documentos/ Difusion/51.pdf.) u.s. geologicAl survey minerals yearbook—2012

Ministerio de Minería y Metalurgia, Bolivia, [undated], Fuerza laboral ocupada en el sector minero: La Paz, Bolivia, Ministerio de Minería y Metalurgia, 1 p. (Accessed December 19, 2013, at http://www.mineria.gob.bo/Documentos/ Estadisticas/Empleo.pdf.) Ore, Diego, 2009, Analysis—Bolivia’s Morales turns a blind eye to mine seizures: Thomson Reuters, October 15. (Accessed January 17, 2014, at http://www.reuters.com/article/2009/10/15/idUSN15268406.) Pabón, Cristina, 2012, Lack of expertise blamed for Bolivia’s lithium delays: SciDev.Net, February 17. (Accessed March 7, 2013, at http://www.scidev.net/ en/agriculture-and-environment/earth-science/news/lack-of-expertise-blamedfor-bolivia-s-lithium-delays.html.) Pan American Silver Corp., 2013, Annual report 2012: Vancouver, British Columbia, Canada, Pan American Silver Corp., March 22, 103 p. Parks, Ken, 2012, Bolivia pulls Pan American Energy contract in Caipipendi gas field: The Wall Street Journal, January 24. (Accessed January 25, 2012, at http://online.wsj.com/article/BT-CO-20120124-710681.html.) Petróleo Brasileiro S.A., 2013, Form 20–F—Annual report for the year ended December 31, 2012: Rio de Janeiro, Brazil, Petróleo Brasileiro S.A., April 26, 166 p. Place, Michael, 2012, YPFB says private oil and gas investment to hit US$10.1bn by 2016—Bolivia: Santiago, Chile, Business News Americas Ltda., April 18, 2 p. Planet Resource Recovery, Inc., 2010a, Planet Resource Recovery, Inc. JV with Raptor Ventures, LLC enters into contract to sell antimony tailings at the San Antonio de Turiri Mine in Bolivia: Houston, Texas, Planet Resource Recovery, Inc., August 5. (Accessed December 14, 2012, at http://money.cnn.com/news/newsfeeds/articles/marketwire/0648996.htm.) Planet Resource Recovery, Inc., 2010b, Planet Resource’s Raptor Ventures, LLC enters into antimony ore and gold sales contract: Houston, Texas, PR Newswire Association LLC, December 1. (Accessed December 14, 2012, at http://www.prnewswire.com/news-releases/planet-resources-raptor-venturesllc-enters-into-antimony-ore-and-gold-sales-contract-111118414.html.) Planet Resource Recovery, Inc., 2010c, Planet’s Raptor Ventures, LLC commences operations at Sorpresa antimony mine in Bolivia: PR Newswire Association LLC, September 27. (Accessed December 14, 2012, at http://www.prnewswire.com/news-releases/planets-raptor-ventures-llccommences-operations-at-sorpresa-antimony-mine-in-bolivia-103856973.html.) Quiroga, C.A., 2011, Interview—Update 2—Bolivia plans to hike mining royalties: Thomson Reuters, September 1. (Accessed January 16, 2014, at http://uk.reuters.com/article/2011/09/01/idUKN1E7800VX20110901.) Quiroga, C.A., 2012, Bolivia rolls back on Pan American stake takeover: Thomson Reuters, May 28. (Accessed January 16, 2014, at http://uk.reuters.com/article/2012/05/28/bolivia-energyidUKL1E8GS6FK20120528.) Ramos, Daniel, 2012, Bolivia says mining reform will not affect Sumitomo: Thomson Reuters, August 23. (Accessed January 12, 2014, at http://uk.reuters.com/article/2012/08/23/bolivia-mining-sumitomoidUKL2E8JN8LG20120823.) Repsol YPF, S.A., 2013, Annual accounts 2012: Madrid, Spain, Repsol YPF, S.A., May 31, 429 p. Romig, Shane, 2012, Bolivia revokes Glencore’s Colquiri Mine concession: Dow Jones Newswires, June 20. (Accessed June 22, 2012, at http://www.foxbusiness.com/news/2012/06/20/bolivia-revokes-glencorecolquiri-mine-concession/.) Schipani, Andres, 2012, Bolivia’s nationalising takes a toll: The Financial Times [London, United Kingdom], October 4. (Accessed April 1, 2013, at http://blogs.ft.com/beyond-brics/2012/10/04/bolivias-nationalising-takes-atoll/#axzz2pYQbKBBC.) Schipani, Andres, 2013, Bolivia—The Saudi Arabia of lithium: The Financial Times [London, United Kingdom], January 7. (Accessed March 7, 2013, at http://blogs.ft.com/beyond-brics/2013/01/07/bolivia-the-saudi-arabia-oflithium/.) Schipani, Andres, and Thomas, Helen, 2012, Bolivia losing its attraction to miners: The Financial Times [London, United Kingdom], August 29. (Accessed January 12, 2014, at http://www.ft.com/intl/cms/s/0/ f3fdcb34-f1e3-11e1-bba3-00144feabdc0.html.) Servicio Nacional de Registro y Control de la Comercialización de Minerales y Metales, 2013a, Bajaron las regalia mineras por la fluctuación en el mercado internacional: La Paz, Bolivia, Servicio Nacional de Registro y Control de la Comercialización de Minerales y Metales, boletín informativo 2, año 1, March 10, 3 p. (Accessed July 31, 2013, at http://www.senarecom.gob.bo/ boletines/boletin_informativo2.pdf.)

Servicio Nacional de Registro y Control de la Comercialización de Minerales y Metales, 2013b, Piedras semipreciosas se convierten en hermosas joyas en Bolivia: La Paz, Bolivia, Servicio Nacional de Registro y Control de la Comercialización de Minerales y Metales, boletín informativo 22, año 1, July 9, 4 p. (Accessed July 31, 2013, at http://www.senarecom.gob.bo/boletines/ boletin_informativo22.pdf.) Shedd, K.B., 2013, Tungsten: U.S. Geological Survey Mineral Commodity Summaries 2013, p. 176–177. Shrewton Investments Ltd., 2012, Antimony: Pretoria, South Africa, Shrewton Investments Ltd. (Accessed January 12, 2014 at http://shrewton.net/ antimony.html.) Singh, S.P., 2012, Flight from Bolivia: New Delhi, India, Business Standard Ltd., August 11. (Accessed January 10, 2014, at http://www.business-standard.com/ article/companies/flight-from-bolivia-112081100042_1.html.) South American Silver Corp., 2013, Management’s discussion and analysis— Year ended December 31, 2011: Vancouver, British Columbia, Canada, South American Silver Corp., March 28, 16 p. Sumitomo Corp., 2012, Underground water usage optimization study conducted at the San Cristobal Mine: Tokyo, Japan, Sumitomo Corp. press release, April 19. (Accessed December 7, 2012, at http://www.sumitomocorp.co.jp/ english/topics/2012/20120419_111751.html.) Sumitomo Corp., 2013, Consolidated quarterly results FY2012: Tokyo, Japan, Sumitomo Corp., February 4, 13 p. (Accessed January 12, 2014, at http://www.sumitomocorp.co.jp/files/user/english/doc/ir/2012/qe130204.pdf.) Thomson Reuters GFMS, 2013, World silver survey 2013—A summary: Washington, DC, The Silver Institute and Thomson Reuters, April, 9 p. Tolcin, A.C., 2013, Zinc: U.S. Geological Survey Mineral Commodity Summaries 2013, p. 188–189. Toledo, Yandira, 2011: Álvaro Ríos—No existe suficiente gas natural para el proyecto del Mutún: Santa Cruz, Bolivia, Diario El Día, December 8. (Accessed December 23, 2011, at http://www.eldia.com.bo/ index.php?cat=1&pla=3&id_articulo=80564.) Total S.A., 2011, Bolivia—New gas and condensate discovery on the Aquio block in the Andean foothills: Courbevoie, France, Total S.A., May 12. (Accessed December 26, 2011, at http://total.com/en/investors/ press-releases/20110512-bolivia-new-gas-condensate-discovery-aquio-blockandean-foothills.) Total S.A., 2013, Registration document 2012: Courbevoie, France, Total S.A., March 28, 368 p. U.S. Commercial Service, 2012, Doing business in Bolivia—A country commercial guide for U.S. companies: U.S. and Foreign Commercial Service and U.S. Department of State, March 21, 92 p. U.S. Energy Information Administration, 2011, Bolivia: U.S. Energy Information Administration country analysis brief, April, 12 p. U.S. Energy Information Administration, 2013, Bolivia—Overview— Country analysis note-data: U.S. Energy Information Administration, August. (Accessed January 9, 2014, at http://www.eia.gov/countries/ country-data.cfm?fips=BL#ng.) Vargas, M.V., 2007, Bolivia’s new contract terms—Operating under the nationalization regime: Voorburg, Netherlands, Oil, Gas & Energy Law Intelligence, October, 8 p. Viswanathan, Rengaraj, 2013, Lessons from India Jindal’s Bolivian investment failure: Montevideo, Uruguay, MercoPress News Agency, July 20. (Accessed January 9, 2014, at http://en.mercopress.com/2013/07/20/ lessons-from-india-jindal-s-bolivian-investment-failure.) Watts, Mark, 2011a, Doubts surround Bolivia lithium development: Industrial Minerals, no. 522, March, p. 19. Watts, Mark, 2011b, Lithium reality check: Industrial Minerals, no. 523, April, p. 39–47. Wilson, Alana, McMahon, Fred, and Cervantes, Miguel, 2013, Fraser Institute annual survey of mining companies—2012/2013: Vancouver, British Columbia, Canada, The Fraser Institute, February 28, 134 p.

Bolivia—2012 3.11

TaBlE 1 BolIvIA: ProDucTIoN oF MINErAl coMMoDITIES1 (Metric tons unless otherwise specified) Commodity2 METAlS Antimony: Mine output, Sb content Metal, smelter3 3

Trioxide, Sb content arsenic, mine output, arsenic trioxide and arsenic sulfide Bismuth: Mine output, Bi content Metal, smelter copper: Mine output, cu content Metal, primary gold: Mine output, Au content4 Metal, including Au content of bullion and dore indium, run of mine, in contente lead: Mine output, Pb content

2009

2010

2011

2012

3,905

2,990

4,980

3,947

5,088

376

369

419

372

400

e

2,608 74

1,972 115

3,239 155

3,132 99

3,200 104

e

28 92

54 73

87 --

41 31

10 --

e

882 215

2,063 895

4,176 1,034

9,449 1,500

e

7,217 3,667 50

6,394 2,430 60

6,513 1,786 70

6,973 2,103 65

81,602

84,538

72,803

473

418

310

1,113,764 35,861 161

1,325,729 33,000 --

731 8 kilograms do.

Metal, smelter, primary Silver: Mine output, Ag content6 kilograms Metal, including Ag content of bullion and dore do. Tantalum, tantalite, gross weight do. Tin: Mine output, Sn content Metal, smelter Tungsten, mine output, W content Zinc, mine output, Zn content INDuSTrIAl MINErAlS Barite Bentonite Borax Boric acid cement: Clinker thousand metric tons Hydraulic do. gemstones, rough: amethyst7 kilograms ametrine (Bolivianite) do. Quartz, pink do. Gypsum, crude Salt, natural, all typese of which, rock salt Stone, natural: Granite limestone Marble Slate (pizarra) Sulfur, native Ulexite See footnotes at end of table.

3.12

2008

8,431 5,067 65

17,320 12,667 1,148 383,618

e

r

r

19,575 15,006 1,023 430,879

e

r

100,051 5

1,259,388 225,211 3,416 20,190 15,003 1,204 411,409

269

79,044 5

1,213,586 258,756 17,439

r

20,373 14,295 1,124 427,129

250 1,214,025 250,000 41,604

r

2,069 323 1,124 11,114

7,845 440 485 12,619

21,297 591 221 13,742

19,725 745 200 13,500

1,269 1,985

1,568 2,292

1,556 2,414

1,757 2,658

1,867 2,714

228,397 20,629 67 4,108 45,000 1,415

503,045 10 12,001 1,931 45,000 1,947

485,390 669 -556 45,000 1,218

480,484 16,819 -698 45,000 1,968

97,255 59 -594 45,000 2,461

-75

62 26 32 190 3 85,530

44 111 65 63 -97,303

-195 40 104 -135,068

43 200 50 21 -131,340

266 508 55,710

e

19,702 14,517 1,269 389,911

10,900 1 297 10,539

(8)

e

e e

e

e

e

u.s. geologicAl survey minerals yearbook—2012

TaBlE 1—Continued BolIvIA: ProDucTIoN oF MINErAl coMMoDITIES1 (Metric tons unless otherwise specified) Commodity2 MINErAl FuElS AND rElATED MATErIAlS gas, natural: Gross million cubic meters Marketable (net) do. Natural gas liquids thousand 42-gallon barrels Petroleum: Crude do. refinery products: liquefied petroleum gas do. gasoline: aviation do. Motor do. Jet fuel do. kerosene do. Distillate fuel oil, including diesel fuel oil do. lubricants: oil, including automotive and industrial do. Greases9 do. 9

2008

2009

2010

2011

15,375 14,895 2,645

13,411 12,787 2,541

15,227 14,923 3,022

16,437 16,186 3,243

r

14,233

12,329

12,607

12,958

r

15,086

978

r

980

e

28 5,429 1,182 128 4,275

r

30 5,900 1,050 120 4,550

e

149

r

150

e

3

e

12 12,800

e

969

r

990

r

945

35 5,282 1,021 121 5,057

r

14 5,362 1,046 125 4,053

r

4 5,489 1,096 127 4,035

r

135

r

140

r

144

r

1

r

2

r r r r

r

r r r r

r r

r

3 r

2012

r r

r r r r

3 r

r

asphalt 12 11 do. 16 15 Total do. 12,637 r 11,747 r 11,855 r 12,183 r e Estimated; estimated data are rounded to no more than three significant digits; may not add to totals shown. rrevised. do. Ditto. -- Zero. 1 Table includes data available through February 21, 2014. 2 in addition to the commodities listed, some iron ore and manganese and a variety of industrial minerals (clays, crushed and broken stone, dimension stone, lime, and sand and gravel) were produced, but available information is inadequate to make reliable estimates of output. 3 Exported production. 4 May include production of metallic gold. 5 Gross weight of primary metal alloys thought to contain lead. 6 May include production of metallic silver. 7 May include production by previously unregistered miners whose production was not officially accounted for prior to 2007. 8 less than 1/2 unit. 9 Reported figures were converted from metric tons to equivalent barrels.

18,706 18,475 3,700

e e e e

e

Bolivia—2012 3.13

TaBlE 2 BolIvIA: STrucTurE oF THE MINErAl INDuSTry IN 2012 (Metric tons unless otherwise specified)

Commodity antimony

Major operating companies and major equity owners Empresa Minera unificada S.A. (EMuSA) (private, 100%) Small-scale mining operations and cooperatives (private, 100%)

Do.

Do. Do.

Raptor ventures llC (Planet Resource Recovery inc., 100%) Shrewton investments ltd., 70%, and Raptor ventures llC (Planet Resource Recovery inc., 100%), 30%

antimony, metal (regulus)

Empresa Metalúrgica vinto (government, 100%)

antimony, metal

operaciones Metalúrgicas S.A. (oMSA)

Do.

Fundestaño de oruro S.A. (Empresa Minera unificada S.A., 100%) Empresa Minera Bernal Hermanos S.A. (private, 100%) cooperativa Minera locatarios Tasna ltda. corporación Minera de Bolivia (coMIBol) (Government, 100%)

antimony trioxide Bismuth Bismuth, refined Do.

Empresa Metalúrgica vinto (government, 100%)

Cement

thousand Sociedad Boliviana de Cemento S.a. (SoBoCE) metric tons (Consorcio Cementero del Sur S.a., 47.02%, and other private, 52.98%) Do. do. Fábrica Nacional de cemento S.A. (chuquisaca Provincial government, 33.34%; Municipal Government of Sucre, 33.33%; Universidad San Francisco Xavier de chuquisaca, 33.33%) Do. do. Cooperativa Boliviana de Cemento ltda. (CoBoCE) Do. ITAcAMBA cemento S.A. Copper compañía Minera PAS (Bolivia) S.A. (Pan American Silver Corp., 95%, and Trafigura Baheer B.v., 5%) Do. corporación Minera de Bolivia (coMIBol) (Government, 100%) Do. Small-scale mining operations and cooperatives (private, 100%) Gemstones, ametrine Minerales y Metales del oriente S.r.l. Gold

kilograms Empresa Minera Paititi S.A. {orvana Minerals corp. [Fabulosa Mines ltd. (Minera S.A., 100%), 52.5%, and other private, 47.5%], 100%}

Do. Do. Do. Gold-silver dore, bullion, ag content Gold-silver dore, bullion, au content indium, run of mine

do. Golden Eagle international inc. (private, 100%) do. grupo Minero la roca S.A. (private, 100%) do. Mining cooperatives (private, 100%) do. Empresa Minera Inti raymi S.A. (compañía Procesadora de Minerales S.A., 88%, and Empresa Minera unificada S.A., 12%) do. do.

Do. Do.

location of main facilities caracota, chilcobija, and Espiritu Santo Mines, Potosi Department San Jose Mine, oruro Department; Mines in caracota District, Nor chichas, Quijarro, and Sud Chichas Provinces, Potosi Department Sorpresa Mine, Potosi Department San Antonio de Turiri Mine, Potosi Department

annual capacitye 1,100 4,500

2,200 Na

vinto antimony plant,1 Carretera vinto, oruro Department Huajara industrial Park, east of the City of oruro, oruro Department City of oruro, oruro Department

6,000

Palala smelter, Tupiza, Potosi Department

1,900

Tasna Mine, near city of oruro, oruro Department Telamayu bismuth refinery, Telamayu, Potosi Department vinto smelting complex,1 Carretera vinto, oruro Department El Puente (near city of Tarija), EMISA (near city of oruro), viaCHa (near city of la Paz), and WaRNES (near city of Santa Cruz) plants Cal orcko industrial complex near city of Sucre, including grinding plant, and FANcESA cement plant near city of Chuquisaca irpa irpa plant, near city of Cochabamba Plant, Santa Cruz Department San vicente Mine, Potosi Department coro coro Mine, and a pilot plant to produce copper cathodes, la Paz Department Mining operations in chuquisaca, la Paz, oruro, and Potosi Departments Anahi Mine, Santa cruz Department Don Mario Mine,3 Chiquitos Province, Santa Cruz Department cangalli Mine,3 Santa Cruz Department la Paz Department Tipuani, guanay, Mapiri, Huayta, kaka, and Teoponte Rivers, la Paz Department kori chaca open pit mine and kori kollo leaching plant, near city of oruro do.

corporación Minera de Bolivia (government, 100%), 50%, and Bolivar Mine, Potosi Department Sinchi Wayra S.a. (Glencore international plc, 100%), 50% Sinchi Wayra S.a. (Glencore international plc, 100%) colquechaquita-San lorenzo and Porco Mines, Potosi Department compañía Minera PAS (Bolivia) S.A. (Pan American San vicente Mine, Potosi Department Silver Corp., 95%, and Trafigura Baheer B.v., 5%)

2

3,000 1,100

200 350 90 1,550

1,170

825 200 350 3,000 650 Na 2,100

150 200 4,350 1,800

2,300 35 35 15

See footnotes at end of table. 3.14

u.s. geologicAl survey minerals yearbook—2012

TaBlE 2—Continued BolIvIA: STrucTurE oF THE MINErAl INDuSTry IN 2012 (Metric tons unless otherwise specified)

Commodity indium, run of mine— Continued lead

Major operating companies and major equity owners Empresa Minera colquiri [corporación Minera de Bolivia (government, 100%), 100%] corporación Minera de Bolivia (government, 100%), 50%, and Sinchi Wayra S.a. (Glencore international plc, 100%), 50% Empresa Minera San cristóbal S.A. (Sumitomo Corp., 100%) Small-scale mining operations and cooperatives (private, 100%)

location of main facilities Colquiri tin and zinc mine, inquisivi Province, la Paz Department Bolivar Mine, Potosi Department

Do.

Sinchi Wayra S.a. (Glencore international plc, 100%)

Do.

Empresa Minera la Solución ltda.

Do.

Empresa Minera Santa lucia ltda.

Do. Do.

lead, metal

Empresa Metalúrgica vinto (government, 100%)

Do. Natural gas

Empresa Metalúrgica de karachipampa million cubic meters

(corporación Minera de Bolivia, 100%) operated by Empresa Petrolera andina S.a. (yPFB Andina S.A. [government, 100%], 51.08%, and repsol yPF, S.A., 48.92%) and owned by Empresa Petrolera andina, S.a., 50%, Petróleo Brasileiro S.a., 35%, and Total S.a., 15% operated by Petróleo Brasileiro S.a. (Petrobras) (Brazilian Government, 32.2%, and private, 67.8%), and owned by Empresa Petrolera andina S.a., 50%; Petróleo Brasileiro S.a., 35%; Total S.a., 15% operated by Petróleo Brasileiro S.a. (Petrobras) (Brazilian Government, 32.2%, and private, 67.8%), and operation license owned by Total S.a., 41%; Petróleo Brasileiro S.a., 30%; BG Group plc., 25%; yPFB chaco S.A., 4% operated and owned by yPFB chaco S.A. (Government, 100%)

Do.

do.

Do.

do.

Do.

do.

Do.

do. operated by repsol yPF, S.A., and owned by Bg group plc., 37.5%, repsol yPF S.A., 37.5%, and Pan american Energy llC (BP p.l.c., 60%, and BRiDaS Corp., 40%), 25% do. operated and owned by BG Group plc., 100%

Do.

Do.

do. operated by Pluspetrol Bolivia Corporation S.a. (owned by Pluspetrol S.a., 100%) Do. do. operated by vintage Petroleum Boliviana ltda. (owned by occidental Petroleum Corp., 100%) Petroleum thousand operated by Empresa Petrolera andina S.a. 42-gallon (yPFB Andina S.A. [government, 100%], 51.08%, and barrels repsol yPF, S.A., 48.92%) and owned by Empresa Petrolera andina, S.a., 50%, Petróleo Brasileiro S.a., 35%, and Total S.a., 15% See footnotes at end of table.

annual capacitye 5 15,000

San cristobal Mine, southwestern Bolivia

82,000

cerro rico Mine, Potosi Department, and in areas immediately surrounding the San cristobal Mine

10,200

Caballo Blanco group of mines (ColquechaquitaSan lorenzo, reserva and Tres Amigos Mines), and Porco Mine, Potosi Department; and Poópo Mine, oruro Department Asientos and Monserrate lead-silver-zinc mines,4 Cochabamba Department Santa lucia lead-silver-zinc mine, Potosi Department vinto smelting complex, Carretera vinto, oruro Department karachipampa lead-silver smelter, and zinc refinery,4 Potosi Department los Sauces, Rio Grande, Sirari, vibora, and Yapacani fields, Santa Cruz Department

15,000

Sábalo field, San antonio Block; San alberto field and Block, Tarija Department

itaú field, Block XX Tarija oeste, Tarija Department

vuelta Grande field, Chuquisaca Department; Bulo Bulo, carrasco and kanata fields, on the border of Cochabamba and Santa Cruz Departments Margarita field, caipipendi Block, Tarija Department; Paloma field, Mamore Block, Cochabamba and Santa Cruz Departments la vertiente, Escondido and Taiguati fields, la vertiente Block; los Suris field and Block, all in Tarija Department Bermejo and Madrejones fields, Tarija Department; Tacobo field, Santa Cruz Department Chaco Sur and Ñupuco fields, Tarija Department; Naranjillos field, Santa Cruz Department los Sauces, Rio Grande, Sirari, vibora, and Yapacani fields, Santa Cruz Department

2

610 200 120 30,000 2,700

7,200

Na

2,200

1,300

630

520 350 2,100

Bolivia—2012 3.15

TaBlE 2—Continued BolIvIA: STrucTurE oF THE MINErAl INDuSTry IN 2012 (Metric tons unless otherwise specified)

Commodity Major operating companies and major equity owners Petroleum— thousand operated by Petróleo Brasileiro S.a. (Petrobras) Continued 42-gallon (Brazilian Government, 32.2%, and private, 67.8%), barrels and owned by Empresa Petrolera andina S.a., 50%; Petróleo Brasileiro S.a., 35%; Total S.a., 15% Do. do. operated and owned by yPFB chaco S.A. (Government, 100%)

Do.

Do.

Do. Do. Silver Do. Do.

do. operated by repsol yPF, S.A., and owned by Bg group plc., 37.5%, repsol yPF S.A., 37.5%, and Pan american Energy llC (BP p.l.c., 60%, and BRiDaS Corp., 40%), 25% do. operated and owned by BG Group plc., 100%

do. operated by Pluspetrol Bolivia Corporation S.a. (owned by Pluspetrol S.a., 100%) do. operated by vintage Petroleum Boliviana ltda. (owned by occidental Petroleum Corp., 100%) kilograms Empresa Minera San cristóbal S.A. (Sumitomo Corp., 100%) do. Empresa Minera Manquiri S.A. (coeur d'Alene Mines corp., 100%) do. Small-scale mining operations and cooperatives (private, 100%)

Do.

do. Sinchi Wayra S.a. (Glencore international plc, 100%)

Do.

do. compañía Minera PAS (Bolivia) S.A. (Pan American Silver Corp., 95%, and Trafigura Baheer B.v., 5%) do. Empresa Minera Santa lucia ltda.

Do. Do.

do. Empresa Minera Paititi S.A. {orvana Minerals corp. [Fabulosa Mines ltd. (Minera S.A., 100%), 52.5%, and other private, 47.5%], 100%}

Do.

do. Empresa Minera la Solución ltda.

Do. Silver, metal Do. Do. Tin Do. Do.

location of main facilities Sábalo field, San antonio Block; San alberto field and Block, Tarija Department

vuelta Grande field, Chuquisaca Department; Bulo Bulo, carrasco and kanata fields, on the border of Cochabamba and Santa Cruz Departments Margarita field, caipipendi Block, Tarija Department; Paloma field, Mamore Block, Cochabamba and Santa Cruz Departments

2,900

5,000

la vertiente, Escondido and Taiguati fields, 610 la vertiente Block; los Suris field and Block, all in Tarija Department Bermejo and Madrejones fields, Tarija Department; 160 Tacobo field, Santa Cruz Department Chaco Sur and Ñupuco fields, Tarija Department; 140 Naranjillos field, Santa Cruz Department San cristobal Mine, southwestern Bolivia 525,000 San Bartolomé Mine, by cerro rico, near Potosi, Potosi Department Candelaria and other mines, Cerro Rico deposit, as well as in areas immediately surrounding the San Bartolomé Mine (under construction), oruro and Potosi Departments Caballo Blanco group of mines (ColquechaquitaSan lorenzo, reserva and Tres Amigos Mines), and Porco Mine, Potosi Department; and Poópo Mine, oruro Department San vicente Mine, Potosi Department Santa lucia lead-silver-zinc mine, Potosi Department Don Mario Mine,3 Chiquitos Province, Santa Cruz Department

Asientos and Monserrate lead-silver-zinc mines,4 Cochabamba Department corporación Minera de Bolivia (government, 100%), 50%, and Bolivar Mine, Potosi Department Sinchi Wayra S.a. (Glencore international plc, 100%), 50% Empresa Metalúrgica de karachipampa karachipampa lead-silver smelter, and zinc refinery,4 Potosi Department (corporación Minera de Bolivia, 100%) Empresa Minera Manquiri S.A. San Bartolomé mine and plant, by cerro rico, (coeur d'Alene Mines corp., 100%) near Potosi, Potosi Department Empresa Metalúrgica vinto (government, 100%) vinto smelting complex, Carretera vinto, oruro Department Empresa Minera Huanuni [corporación Minera de Bolivia Huanuni Mine, Dalence Province, oruro (government, 100%), 100%] Department Empresa Minera colquiri [corporación Minera de Bolivia (government, 100%), 100%] Empresa Minera Barrosquira ltda. (private, 100%)

annual capacitye 7,500

Colquiri tin and zinc mine, inquisivi Province, la Paz Department caracoles Mine, Inquisivi Province, la Paz Department

280,000 280,000

180,000

100,000 30,000 7,500

2,000 Na 310 Na 2 10,000 6,000

2

500

See footnotes at end of table.

3.16

u.s. geologicAl survey minerals yearbook—2012

TaBlE 2—Continued BolIvIA: STrucTurE oF THE MINErAl INDuSTry IN 2012 (Metric tons unless otherwise specified)

Commodity Tin—Continued

Major operating companies and major equity owners Small-scale mining operations and cooperatives (private, 100%)

Tin, refined

Empresa Metalúrgica vinto (government, 100%)

Do.

operaciones Metalúrgicas S.A. (oMSA)

Tin-lead alloys

Empresa Metalúrgica vinto (government, 100%)

Tungsten, W content

Empresa Minera Himalaya [corporación Minera de Bolivia (government, 100%), 100%] Small-scale mining operations and cooperatives (private, 100%)

Do.

Zinc Do.

Sinchi Wayra S.a. (Glencore international plc, 100%)

Do.

Small-scale mining operations and cooperatives (private, 100%) Empresa Minera colquiri [corporación Minera de Bolivia (government, 100%), 100%] Empresa Minera Santa lucia ltda.

Do. Do. Do. Do. Do. Zinc, refined e

Empresa Minera San cristóbal S.A. (Sumitomo Corp., 100%)

compañía Minera PAS (Bolivia) S.A. (Pan American Silver Corp., 95%, and Trafigura Baheer B.v., 5%)

annual location of main facilities capacitye Caracoles, Huanuni, viloco, and other current or 10,000 former corporación Minera de Bolivia mines, in oruro, Potosi, and la Paz Departments vinto smelting complex, Carretera vinto, 12,000 oruro Department Huajara industrial Park, east of the City of oruro, 3,360 oruro Department vinto smelting complex, Carretera vinto, 200 oruro Department Himalaya Mine, Murillo Province, Na la Paz Department Bolsa Negra, Enramada, reconquistada Mines, 1,200 near the former International Mining co.'s chojilla Mine, Sud yungas Province; chambilaya and chicote grande Mines, Inquisivi Province; Mercedes, San Antonio, ucumarini Mines, larecaja Province, la Paz Department San cristobal Mine, southwestern Bolivia 270,000 Caballo Blanco group of mines (Colquechaquita205,000 San lorenzo, reserva and Tres Amigos Mines), and Porco Mine, Potosi Department; and Poópo Mine, oruro Department cerro rico Mine, Potosi Department, and in areas 85,000 immediately surrounding the San cristobal Mine Colquiri tin and zinc mine, inquisivi Province, 14,000 la Paz Department Santa lucia lead-silver-zinc mine, 12,000 Potosi Department San vicente Mine, Potosi Department 6,000

Asientos and Monserrate lead-silver-zinc mines,4 Cochabamba Department corporación Minera de Bolivia (government, 100%), 50%, and Bolivar Mine, Potosi Department Sinchi Wayra S.a. (Glencore international plc, 100%), 50% Empresa Metalúrgica de karachipampa karachipampa lead-silver smelter, and zinc refinery,4 Potosi Department (corporación Minera de Bolivia, 100%) Empresa Minera la Solución ltda.

2

1,300 Na 70,000

Estimated; estimated data are rounded to no more than three significant digits. Do., do. Ditto. Na Not available. There was no reported production of refined antimony or bismuth at the vinto smelting complex in 2012. 2 Reported figure. 3 an undisclosed proportion of the gold and silver production from this mine was in the form of metal contained in dore or bullion. 4 inactive during all of 2012. 1

Bolivia—2012 3.17

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The Mineral Industry of Bolivia in 2012 - USGS Mineral Resources

2012 Minerals Yearbook bolivia U.S. Department of the Interior U.S. Geological Survey February 2015 The Mineral Industry of Bolivia By Steven T. A...

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