Bureau of Mines / Minerals yearbook area reports: international 1972
Year 1972, Volume 3 (1972)
Cammarota, V. Anthony, Jr.
Bolivia, pp. 147-154 PDF (885.4 KB)
147The Mineral Industry of Bolivia By V. Anthony Cammarota, Jr.1 The mineral industry of Bolivia contributed 11.2% to the gross domestic product (GDP) in 1972 compared with 11.9% in 197-1. Petroleum and natural gas accounted -for 4.9% of the GDP. The -mineral industry provided 78%, and -petroleum and natural gas provided 19% of -the -total value of Bolivia's exports. On October 27, 1972, the Bolivian peso was devalued from 11.875 pesos to 20 pesos for each U.S. dollar. The companies -in the Medium Miners Association were significantly affected by the new 20% tax on the net c.i.f. value of mineral exports -imposed by the Government after devaluation. Supreme Decree No. 10635 of December 15, 1972, softened the severe effects of the tax by allowing deductions for fees and contributions to state entities and repealing the 5% sales -tax on imported machinery, equipment, and materials. A list o-f the more important Supreme Resolutions (S.R.), Supreme Decrees (S.D.) and Decree Laws (D.L.) passed in 1972 affecting the mining and smelting industries follows: S.D. 10069, January 7, 1972: Au-thorizes the Ministry of National Defense -to become a partner in a joint venture with the Gibraltar Huari-Huari Mining Corp. to work the Huari-Huari tin-silver-zinc mine in -the Department of Potosi. S.D. 10207, April 14, 1972: For 2 years no National, Departmental, Municipal or University taxes will be paid by Corporación Minera de Bolivia (COMIBOL) for the acquisition of charcoal or residual wood to be used in COMIBOL's bismuth smelter at Telamayu. S.D. 10262, May 19, 1972: Authorizes COMIBOL to use part of the Soviet credit of $27.5 million to purchase and install a tin volatilization plant in the city of PotosI at the Unificada mine site. S.D. 10379, July 28, 1972: Eliminates payment of fees, established by S.D. 09028, for 5 years to the Banco Minero de Bolivia (BAMIN) on copper mineral exports and modifies export taxes on copper minerals or concentrates. S.D. 10403, August 11, 1972: Authorizes Empresa Nacional de Fu-ndiciones (ENAF) to acquire from Skoda Export, a Czechoslovakian firm, an electric furnace, which is in addition to equipment purchased from Skoda Export for the construction of the antimony smelter. S.D. 10521, October 3, 1972: Establishes the National Policy of -the iron and steel industry. The decree sta-tes that Mutdn's minerals, including iron and manganese, are the exclusive property of -the Government of Bolivia, and ' that the Mutdn mineral deposit, because of its strategic location and its geopolitical significance, may not be bestowed, partially or wholly, -to private entities or mixed societies. MutCin's development and exploitation -must be realized by Bolivian Government agencies, which may form mixed societies for the installation and management of industrial plants if it is in the National interest. S.D. 10607, December 1, 1972: Fixes indemnification -for nationalization of the Matilde Mine Corp. at $13.4 million. COMIBOL becomes the sole and definitive owner of all of Matilde's assets in Bolivia. S.D. 10611, December 1, 1972: Establishes a new gold policy, annuling the old policy expressed in S.D. 10315 of June 23, 1972. The new decree annuls the royalties of the old decree -but applies a 2% tax on the gross value of gold production to amortize the Gold Cooperatives' debts to BA-MIN. It further levies an additional 2% tax on the gross value to amortize the Gold Cooperatives' debt to the Corporación Boliviana de Fomento (Bolivian Developmen-t Corp.) - 1 Physical scientist, Division of Nonferrous Metals—Mineral Supply.
http://rightsstatements.org/vocab/NoC-US/1.0/| As a work of the United States government, this material is in the public domain.| For information on re-use see: http://digital.library.wisc.edu/1711.dl/Copyright