Sumitomo’s Bolivian Mine to Remain Private Despite Mining Reforms

Reuters reported that although the Bolivian government will be reforming the country’s mining industry, the San Cristobal silver-zinc mine, owned by Sumitomo Corp. (TSE:8053), will remain private.

As quoted in the market news:

The reform seeks to boost government revenue but will allow private projects to coexist alongside state mines, cooperatives, and private-public partnerships.

“San Cristobal will definitely continue to operate as a private mine,” Deputy Mining Minister Freddy Beltran told Reuters. “There will continue to be private mining operations with no direct state participation.”

Click here to read the full Reuters report.

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pasinexPasinex Resources Limited (CSE:PSE,FSE:PNX), through its joint venture with Akmetal AS, holds a 50% interest in the Horsum Regional Zinc Project in southeast Turkey. Connect with PNX to learn more.

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