Bolivian Mining Corporation

The Bolivian Mining Corporation, known as Corporación Minera de Bolivia (COMIBOL), was a state-owned entity that played a significant role in Bolivia's economy, particularly in the mining sector. Historically, Bolivia has been rich in mineral resources, including tin, gold, silver, zinc, and lithium. The country's economic development has often been tied to the earnings from mineral exports, making it vulnerable to fluctuations in global commodity prices.1

Following a revolutionary program in the mid-20th century, Bolivia nationalized its mines. However, this period saw decreased mineral output and increased wages, impacting economic growth. In the early 1980s, falling tin prices led to significant cutbacks and layoffs at COMIBOL. While privatization occurred in the 1990s, leading to new investments and the rise of private and cooperative mining operations, the government under Evo Morales began a shift back toward nationalization in the 2000s to counter foreign control and fund social programs. COMIBOL was mandated to oversee foreign mining operations under a new constitution.1