Bolivia to nationalize mining industry

Bolivian President Evo Morales on Jan. 10 renewed his pledge to nationalize his country's mining industry, saying he would complete the task this year. In comments after his arrival for Daniel Ortega's inauguration as Nicaragua's president, Morales said the mining industry was the next privatization he wanted to reverse. "Last year we nationalized hydrocarbons," he said. "This year it will be mining." Bolivian mines are already owned by the state but the government has granted mining concessions to private Bolivian cooperatives and foreign mining companies. Morales has used the term "nationalization" to refer to his goal of garnering greater share of mineral export revenues for the government. He has not given details on how any new government action would affect mining concessions, but last week Bolivian Mining Minister Guillermo Dalence proposed a sharp hike in taxes on mining revenues. Mining is the country's second-largest source of export income for South America's poorest country, after natural gas. Earlier this month, Morales announced the completed nationalization of the water company Aguas de Illimani, which serves Bolivia's capital of La Paz, after two years of negotiations with the utility owned by French transnational Suez.