The Bolivian government may rescind concessions on four mines run by Glencore affiliates and Vancouver based Pan American Silver.

Mining unions are asking the state to recover the silver, zinc, lead and tin mines operated by private firms which would be in line with President Mr Evo Morales' drive to regain control over key natural resources since 2006.

Mr Jose Pimentel mining minister of Bolivia said that state run Bolivia Mining Corporation would assume control of the mines if the concessions were rescinded, a move described as recovery not nationalization that could happen before May 1.

Pan American's San Vicente mine located in the center of the silver rich Potosi region produced 3 million ounces of silver and 4,661 tonnes of zinc concentrates last year.

Mr Carlos Prieto corporate manager of Pan American Silver in Bolivia said that he was troubled by the government's announcement although he did not have first hand knowledge of the plan.

Mr Kettina Cordero Pan American's coordinator of investor relations said that "We have found this out through media reports. We do have offices in Bolivia and are trying to get in touch with the government to get clarification on these reports."

(Sourced from www.vancouversun.com)