Economy
The government of Venezuela agreed to buy 300 tons of Bolivian tin and is considering buying more, said on Wednesday the Bolivian minister of Mines to the state-run television network.

The tin will be produced in Bolivia's largest smelter, the state-owned company Empresa Metalúrgica Vinto, which was nationalized in 2007 and produces about 1,000 tons of tin per month, Reuters reported.

"The parties have signed a purchase and sale agreement (...) of 300 tons of high purity metal tin that will become initially a spot sale. Later, we will discuss the possibility of signing another type of contract," said the Bolivian Minister of Mines, Luis Alberto Echazu.

Venezuela would buy the metal at an international rate and is now considering the possibility of buying additionally 300 tons of tin next year, said Bolivian newspaper La Razón.

The Bolivian government is investing USD 20 million to double the production of the Vinto plant, which was previously run by Glencore, a Swiss trader of raw materials. The Vinto plant is based in the department of Oruro.