In the last week an international court ordered Bolivia to pay $41m in compensation to UK-based power generator Rurelec for the nationalisation of its assets. After a stream of seizures in recent years, the move could set a precedent for other companies waiting for reparations from the Andean country’s leftwing government.
However, to some observers there is a big question looming: will Bolivia actually pay up? And if so, when? Read more
Bolivia’s first indigenous president, Evo Morales, was often cast as a champion of the environment. So much, that last month Bolivia passed the world’s first ruling that grants rights to nature.
The law, which the former llama herder and coca grower called a means “to live in equilibrium and harmony with Mother Earth,” gives spiritual value to the land – way beyond its intrinsic environmental, social, and not to mention, economic significance. Read more
After comings and goings, Bolivia’s leftist government with an indigenous twist finally ruled out paying compensation to Canada’s South American Silver, two months after their mining licence was revoked.
“The nation has no financial obligation to South American Silver,” mining minister Mario Virreira told reporters, adding there was “never any document establishing that the Bolivian government had a contractual relationship” with the Vancouver-based company. Read more
It’s been a bad week for mining in Bolivia.
President Evo Morales’ government moved 600 troops to the site of Glencore’s Colquiri tin mine on Friday after 15 people were wounded in ongoing protests between two sets of miners.
Company miners want to “nationalise” the site, which is already owned by state mining company Comibol, but operated by Glencore. Co-operative miners who want access to more parts of the site oppose the move. Read more
Evo Morales has gone and done it again. The president of Bolivia has nationalised a local unit of Spain’s Red Electrica, “in honour of all Bolivian people.”
This is not the first time. Two years ago Morales nationalised four electric companies – two of which were foreign – at the “thunderous request of the people”.
In fact, one might argue May Day nationalisations are becoming something of a habit in Bolivia. Read more