Bolivia boosts mining exports, output in 2018

Bolivia increased both mining exports and production last year as private companies ramped up output and state mining company Comibol restarted several operations.

The Andean country boosted minerals exports by 3% to almost US$4bn in 2018, deputy mining minister Gualberto Hochkofler said. Bolivia posted US$3.72bn in minerals exports in 2017, according to the foreign trade institute (IBCE).

The sector produced a record 1.31Mt of concentrates last year, a 26% increase, Hochkofler told state news agency ABI, without providing further details. Cooperatives for 20% of production and state mining company Comibol for 10%.

While the mining ministry has yet to publish 2017 numbers, Comibol's Vinto tin smelter reported production fell 13% to 11,000t last year after halting operations for repairs. The Amayapampa gold mine, meanwhile, started production last year.

Mining investment, led by state spending, totaled US$369mn last year, while the industry paid out US$182mn in royalties, the official said. The bulk of royalties was allocated to key mining regions Potosí, La Paz and Oruro, he said.

Bolivia's mining industry, led by Glencore, Pan American Silver, Sumitomo, Argentum, Orvana Minerals and Franklin Mining, produced 17,460t tin, 486,955t zinc, 89,510t lead, 47.7Moz silver, 12,810kg gold, 8,718t copper, 1,399t tungsten, 2,669t antimony, 43,253kg bismuth and 2,940t iron ore in 2016, the latest full-year figures available.

Bolivia's mining production is expected to post further gains this year, Hochkofler said.