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Bolivian troops seize key smelter | Bolivian troops seize key smelter |
(1 day later) | |
The Bolivian government has seized control of the country's largest, privately-run tin smelter complex. | The Bolivian government has seized control of the country's largest, privately-run tin smelter complex. |
Signing a decree nationalising the Vinto complex, President Evo Morales said there were no immediate plans to pay compensation to the site's owners. | Signing a decree nationalising the Vinto complex, President Evo Morales said there were no immediate plans to pay compensation to the site's owners. |
More than 200 Bolivian soldiers were sent to occupy the complex, run by Swiss company Glencore. | More than 200 Bolivian soldiers were sent to occupy the complex, run by Swiss company Glencore. |
Bolivia's leftist president last year moved to nationalise the country's energy industry. | Bolivia's leftist president last year moved to nationalise the country's energy industry. |
The seizure of the Vinto complex comes a day after more than 20,000 miners called off demonstrations over planned tax increases, which had seen protestors clash with police in the administrative capital, La Paz. | The seizure of the Vinto complex comes a day after more than 20,000 miners called off demonstrations over planned tax increases, which had seen protestors clash with police in the administrative capital, La Paz. |
'Financial control' | 'Financial control' |
Mr Morales, a close ally of Venezuela's President Hugo Chavez, has been pressing for the country's key mining industry to come under state control. | |
"The Vinto Metallurgical Complex returns to the control of the Bolivian state with all its current shares, allowing the [state] Vinto Metallurgical Company to assume immediate administrative, technical, legal and financial control," the decree signed by Mr Morales said. | "The Vinto Metallurgical Complex returns to the control of the Bolivian state with all its current shares, allowing the [state] Vinto Metallurgical Company to assume immediate administrative, technical, legal and financial control," the decree signed by Mr Morales said. |
The Venezuelan government earlier announced it had taken over the country's leading privately-owned power provider, marking the latest phase in Venezuela's nationalisation programme. | The Venezuelan government earlier announced it had taken over the country's leading privately-owned power provider, marking the latest phase in Venezuela's nationalisation programme. |
The state is to pay $740m for the 82% stake in Electricidad de Caracas, owned by US company AES Corp. | The state is to pay $740m for the 82% stake in Electricidad de Caracas, owned by US company AES Corp. |
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