Bolivia Considering Nationalizing Glencore, Pan-American Mines

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BUENOS AIRES -(Dow Jones)- The Bolivian government is currently in talks with
mine workers at Pan American Silver Corp. (PAAS) and Swiss commodities trader
Glencore International AG about whether to nationalize the two companies'
operations in the South American country, mining ministry spokesman Alfredo
Zaconeta said in a telephone interview Thursday.


Earlier this week, Bolivian President Evo Morales said that miners were
pushing to "reclaim" some of the mining companies that used to belong to the
state.


The government is consulting with the unions at the Glencore and Pan American
mines and will only take over the operations if the workers approve the move,
Zaconeta said.


The government is hoping to announce the nationalizations by May 1,
International Worker's Day, Zaconeta said. Morales frequently uses that date to
make announcements of nationalizations as part of his stated aim of returning
control of the nation's natural resources to the state.


No decision has been made yet regarding potential compensation to be paid,
Zaconeta added.



-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@
dowjones.com



(END) Dow Jones Newswires
04-14-11 1632ET
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