Reuters cited Mr Hector Cordova Deputy Mining Minister as saying that Bolivia mining exports should hit a new record high of more than USD 3 billion this year, buoyed by high prices for silver and zinc.

This would represent a roughly 25pct increase from the USD 2.41 billion record in 2010.

Mr Cordova said "Mining exports have maintained similar volumes to those seen in 2010 but the value is greater, so we expect to surpass USD 3 billion by the end of this year."

Leftist President Mr Evo Morales has tightened control over natural resources in Bolivia one of South America poorest countries affecting the key mining and energy sectors.

Government data shows mining exports fetched USD 1.40 billion in the first five months of this year with silver accounting for USD 541 million and zinc USD 407 million. Mineral exports totalled USD 957 million in the same period of 2010. About half of the silver and zinc sent abroad comes from the San Cristobal mine owned by Japan Sumitomo Corp

The rest comes from mines affiliated with US based Coeur d'Alene global commodities trader Glencore, Canada Pan American Silver and dozens of small locally owned operations.

Bolivia traditionally exports its minerals to the United States and Europe but sales to South Korea, Japan and China have increased in the last 10 years.

(Sourced from Reuters)