LA PAZ – German steelmaker ThyssenKrupp is looking at purchasing tin ingots from Bolivia’s state-run Vinto smelter complex under a five-to-10-year contract, said the Andean nation’s mining minister, Cesar Navarro.
Representatives of the German company met Tuesday with Navarro and expressed their interest in “carrying out investment projects and businesses” in Bolivia and opening a subsidiary in the South American country, the Mining Ministry said in a statement.
“One of the German company’s objectives is to support Vinto by buying tin under a five-to-10-year contract,” Navarro said after the meeting.
Vinto is the world’s sixth-largest tin smelter complex, Navarro recalled, adding that a new oven that will begin operating next week will expand the company’s production capacity to 110 fine metric tons of tin per day.
Bolivia’s government nationalized Vinto, previously owned by Swiss company Glencore, in 2007.