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business English News Blog for  Bolivia News Blog January Archive 

Plan to nationalize mining will move ahead

By Shannon at 01/30/07 02:18

President Evo Morales announced at the Mercosur summit that he plans to go ahead with the nationalization if the mining industry. He said it would not be a full nationalization, but will i nvlove some "deep reforms.

Original source: Reuters. [404 Check: was link to http:/ / news. yahoo. com/ s/ nm/ 20070119/ wl_ nm/ bolivia_ mining_ nationalization_ dc_ 1;_ ylt=ApxyJMKoiBF0hbA0lK8mcO_ a7KcB;_ ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl, anchor: Morales says Bolivia to nationalize mining sector]

The president of Bolivia's state oil company resigns

Juan Carlos Ortiz played a key role in renegotiating contracts with foreign energy companies since he took over in August. But he cites disagreements with other voices in the government as part of his decision.

Original source: Intl. Herald Tribune. Bolivia state oil company president announces resignation

Protest results in miners death

Negotiations between miners and the govt have been suspended following an incident between miners and Bolivian troops that resulted in one miner being shot in the head. Miners are asking for investment by the state to re-energize the mining industry. Members of the mining co-ops felt that they had been very patient and that the govt misinterpreted that as weakness. So in protest they began setting up roadblocks on many of the main highways and may also have taken control of railway system in the south. The union feels that this is now the only option they have left to get the govt to pay attention to them.

Original source: BBC News. Bolivian miners clash with troops

Energy deal announced - Bolivia retaking control of it's resourc

Last May President Evo Morales nationalized the oil and gas indusrty in preparation for regaining control of Bolivias resources and gain more control and a better percentage of profits for the state.

Negotitaitions had been described as rocky, as Bolivias energy company Yacimientos Petroliferos Fiscales Bolivianos (YPFB)missed a restructuring deadline and in the interim Andres Soliz Rada resigned as energy minister.

Contracts with ten major foreign companies were finally reached, some of them announced just before the deadline when they would either have had to have an egreement in place or leave the country. The president of YFPB says the contracts will bring Bolivia an estimated 120 million in annual revenue.

Original source: BBC News. Bolivia agrees new energy deals