The same recession hit neighbouring countries like Peru and Chile. However, the metal extraction industry of these two countries recovered and the mining industry has made huge steps forward. In contrast, Bolivia's mining industry has been under constant decline.
Why are the metal extracting industries in Bolivia lagging behind its neighbours, in spite of the vast potential?
In order to explore ways to revive exploration and exploitation by foreign investment, COMIBOL (Corporación Mineral de Bolivia) and the Danish Embassy at La Paz contacted GEUS asking for advice. The reason for choosing GEUS was GEUS' long time experience in promoting mineral resources e.g. Greenland and Yemen. On this background, the Survey has met with key stakeholders and decision makers in mining and mineral promotion of Bolivia, to analyse the situation. The key stakeholders were: Ministry of Mining and Metallurgy, Sergeotechmin and COMIBOL, SENARECOM and FOMIN, in addition to some of the mining operators in the Ororu district.
Our investigations showed that the main obstacles for promoting the mineral resources are tripartite.