(MENAFN) Bolivian President, Evo Morales, stated that the government will mull over nationalizing South American Silver Corp's silver property, reported Reuters.
Morales said that until now, a final decision on whether to cancel the Canadian miner's concession hadn't been taken yet, adding that nationalizing projects in the country is a priority.
The property, in which the Canadian firm plans to invest around USD50 million, contains the world's largest undeveloped silver, indium and gallium deposits.
Recently, protesters occupied the property, which led to the death of a Bolivian man and the injury of at least 4 others, as protests against the mining project grew; moreover, Bolivian peasant farmers captured 5 local South American Silver workers to force the company to leave, however, the hostages were released over the weekend.
It is worth noting that both Chile and Peru are also facing protests related to mining projects, as many citizens feel they haven't profited from the metals-led economic boom.