The Bolivian government announced the investment of $63 million for the construction of a tin and zinc concentration plant in favor of the Empresa Minera Colquiri (Colquiri Mining Company), a project that requires a total investment of $77 million. The rest of the investment will be funded by the state-owned company.

The financing was agreed upon following a meeting held by President Evo Morales with union leaders from Minera Colquiri and the bolivian miners’ union federation.

Bolivia Mining Minister César Navarro explained that the decision to finance the works came after last year’s invitation to U.S. financier Nalex. However, there were no guarantees for the disbursement. Now, part of resources will be nullified by the Fund for the Productive Industrial Revolution (Finpro), he confirmed.