20070220-18093-Morales-will-not-compensate-Glencore-for-smelter
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Morales will not compensate Glencore for smelter

By Shannon at 02/20/07 18:09

Citing irregularities in the sale of the smelter complex, President Morales has said that Glencore will not be compensated. There is a question as to whether Glencore may not even legally own it. Morales cited "illegalities" in the 2000 privatization sale to British-based firm Allied Deals. Allied went bankrupt in 2003 and the facility was sold for an undisclosed amount to former Bolivian president Gonzalo Sanchez de Lozada. He later sold the complex to Glencore for 200 million dollars, but that sale is not documented. Sanchez de Lozada is currently wanted in Bolivia on human rights and corruption charges.

Original source: Turkish Press. Bolivia not to compensate Swiss foundry nationalization

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