The Globe and Mail reported that Bolivia has seized and nationalized the assets of South American Silver Corp (TSX:SAC) under the accusation that the Vancouver-based miner was responsible for the violent conflict between two communities surrounding its Malku Khota project.
Bolivian President, Evo Morales stated:
These natural resources are of the state and as such the Bolivian people, [...] there has been a problem here, this is what transnational companies are like. Companies that pit brothers against cousins, neighbours … and I am also at fault here because I did not see sooner what was happening.
South American Silver President, Greg Johnson, said in a statement:
We strongly object to the government’s stated course of actions and we will pursue all legal, constitutional and diplomatic options.