The telecommunications satellite Tupac Katari has generated revenues of around $US100 million since 2014 and the number of clients exceeds the 200 companies in the country. The director of the Bolivian Space Agency (ABE) stressed that the cost of the satellite would be covered in 15 years maximum.
Bolivia looks to guarantee that it has enough cobalt reserve to ensure the production of lithium batteries in the country. Cobalt, next to lithium, is a key component for the production of lithium batteries. Government representatives have recently inspected San Luis Mine in Potosi to ensure that the country has enough reserves of cobalt, so the production of lithium batteries in the country can go ahead.
Mining company San Cristobal extract in 2017 a total of 634,000 tonnes of zinc-silver and plumb-silver concentrate. According to former Mining Minister, Dioniso Garzon, San Cristobal’s production is equivalent to 50% of all extractions in Bolivia and represent around 25% of the incomes.
“State-owned companies produced Bs. 51,360 million in incomes between 2006 and 2017, said Veronica Ramos, director of the Technical Bureau for the Strengthening of the Public Enterprise (OFEP).
The Bolivian State Oil corporation (YPFB) pays to sugar mills in the country up to 26.7% more for ethanol than the market price in Brazil. Sugar mills are paid $US0.71 cents per litre while in Brazil the price is $US0.52 cents.
Bolivia is in contact with Brazil and Argentina to review the gas agreements with the two countries. According the Hydrocarbons Minister, Luis Alberto Sanchez, said that the negotiations will impact on the volume of shipments but it can be expected that the prices will not change. However, regional authorities in Bolivia feared that the new contracts will have a negative impact on royalties.
Bolivia’s state lithium corporation (YLB) ordered to proceed with the building of a lithium carbonate industrial plant from this month in Uyuni. YLB’s CEO Juan Carlos Montenegro said that the construction of the plant corresponds to the second phase of the industrialisation of lithium in Bolivia.
Illegal extraction of tin in Huanuni, one of the most important mining centres in Bolivia, have caused the loss of $US2 million in the first eight months of this year. The former president of Bolivia’s Mining Corporation (COMIBOL) Hector Cordova, warned that there is a lack of scientific control of the mining activities that favour the illegal extraction of tin, an activity known as “juqueo”.
Eight of nine companies nationalised during the Evo Morales administration are still registered as public limited companies and operate as subsidiaries of YPFB. According to economy specialist Luis Fernando García, the government only acquired the majority of stocks on this companies, but they weren’t strictly nationalised.
Acording to the Anti-corruption Prosecution Office, the transportation brand of the State Oil company, YPFB Transportation, has not been nationalised. Anti-corruption prosecutors reach to this conclusion three years after a trade union leader close the ruling MAS were accussed of improper use of state property.