UPDATE 1-Bolivia may scrap Glencore, Pan American contracts

Thu Apr 14, 2011 12:58pm EDT

 * Govt says would be "recovery", not nationalization
 * Unions proposing mines return to state control
 (Updates with details on mines, output)
 LA PAZ, April 14 (Reuters) - Bolivia's leftist government
may rescind concessions on four mines run by Glencore [GLEN.UL]
affiliates and Canada's Pan American Silver (PAA.TO)(PAAS.O),
the Andean country's mining minister said on Thursday.
 Mining unions are asking the state to "recover" the silver,
zinc, lead and tin mines currently operated by private firms,
minister Jose Pimentel told a news conference.
 He said state-run Bolivia Mining Corp would assume control
over the mines if the concessions were rescinded, adding this
would affect top commodity trader Glencore's Porco, Colquiri
and Bolivar mines as well as Pan American's San Vicente mine.
 "The (unions') concrete proposal is to recover state
companies that passed into the hands of the private sector one
way or another. We will consider these cases when the unions
working at each of the companies request this," Pimentel said.
 San Vicente, located in the center of the silver-rich
Potosi region, boosted output to some 2.6 million ounces of
silver in 2009 from 875,000 in 2008. [ID:nN20173238]
 For a factbox on Bolivia's top mines, see [ID:nN30167493]
 (Reporting by Claudia Soruco; Writing by Hilary Burke; Editing
by Dale Hudson and David Gregorio)


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