Bolivia's 2016 mining exports rise on prices

Bolivia's mining export revenue climbed 9% to US$1.89bn last year, the government stated.

Exports of concentrates, led by zinc, lead, silver and gold, climbed from US$1.74bn in 2015, the Andean country's national statistics institute said in a statement.

Zinc exports rose 13.5% to US$983mn, while silver gained 10% to US$624mn and lead shipments increased 20% to US$160mn, according to the institute. Gold exports gained 22.6% to US$27.4mn.

Government officials in both Peru and Bolivia admit that Peruvian illegal gold miners are smuggling their output through neighboring Bolivia following a government crackdown. Surging metals prices also helped offset the impact of protests by mining cooperatives and shutdowns of several of state mining company Comibol's units.

Copper exports plunged 37% to US$29.5mn, while tin and antimony both fell by half to US$7.6mn and US$2.7mn, respectively, it said. Foreign sales of tungsten were down 35% to US$14.4mn.

Refined gold exports, which are reported separately, rose 2.4% to US$743mn, while refined tin was up 15.8% to US$295mn and refined silver increased 9.3% to US$109mn, the agency said. Antimony dropped by 38.2% to US$14.3mn, while copper cathodes fell 17.8% to US$8.5mn, according to the agency.

Overall, Bolivian exports decreased 19% to US$7.21bn from US$8.91bn in 2015. Oil and gas exports, which slumped 46.8% to US$2.12bn in the period, accounted for the bulk of the total.

Last year Comibol announced plans to start up at least five mining projects around the country in a bid to boost mining production and exports. Bolivia is also home to mines operated by Pan American Silver, Sumitomo, Coeur Mining, Orvana Minerals and Franklin Mining.