ANNOUNCEMENT 01 May 2010In May 2010, the government of Bolivia announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Supreme Decree No 499 (Decreto Supremo N? 499, 1 de mayo de 2010): http://www.lexivox.org//norms/BO-DS-N499.html
The Wall Street Journal: http://online.wsj.com/article/SB10001424052748704608104575218370489885914.html
America Economia: http://www.americaeconomia.com/negocios-industrias/bolivia-nacionaliza-planta-de-antimonio-de-la-suiza-glencore
On May 1, 2010, the Bolivian President Evo Morales nationalised the antimony smelter plant Vinto-Antimonio (Supreme Decree No 499). The plant belonged to the local firm Colquiri, owned by Sinchi Wayra, which is in turn a subsidiary of Glencore, a Swiss commodity trader. The Bolivian government justified its decision arguing that Glencore was underinvesting in Vinto-Antimonio. For this reason, the government argued that Glencore would not receive any compensation.