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.