ANNOUNCEMENT 01 Aug 2012In August 2012, the government of Bolivia announced altered domestic business conditions for foreign investors.
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Global Research (Center for Research on Globalization): http://www.globalresearch.ca/bolivia-s-mine-nationalization-of-south-american-silver-corporation/31942
South American Silver Corp. Website: http://www.soamsilver.com/december-12-2012-news-release.asp
Metal Bulletin: http://www.metalbulletin.com/Article/3201231/South-American-Silver-files-for-arbitration-against-Bolivian-government.html
On August 1, 2012, the government of Bolivia issued the Supreme Decree No. 1308 revoking the mining concessions held by the Compańia Minera Malku Khota S.A. (CMMK), a wholly owned subsidiary of South American Silver Limited (a Canadian mining company), in Malku Khota (one of the world's largest undeveloped silver and indium sites).
This cancellation of mining concessions followed the kidnapping of South American Silver's employees and a policeman by locals at the end of June 2012. The Bolivian government made a deal with the leaders of the local community whereby the hostages were released in return for an end of the mining operations conducted by South American Silver in the region.