New World Resource has had recent discussions with the Bolivian Government. New World says it “has been clearly informed that pre-existing rights would be respected within the new mining law. It has also been invited to join the Bolivian Government’s Scientific Support Committee (‘Advisory Committee’) set up within the evaporates division of Corp Minera de Bolivia (Comibol). This Advisory Committee aims to assist the government in its plan to develop a pilot plant at the Salar de Uyuni, Bolivia’s largest lithium resource which is currently part of the country’s strategic fiscal reserve. New World’s Pastos Grandes project is located outside of this strategic fiscal reserve. The government is currently in the process of establishing a new mining law with a final draft anticipated before the end of May. Bolivia’s Mining Ministry is consulting with interested parties including foreign companies in drafting the new mining law. New World reports that “the Ministry will be providing foreign companies operating in Bolivia’s mining sector, including New World along with the Ambassador and Senior Trade Commissioner of the Government of Canada an opportunity to comment and give input in regards to the new law before it is finalised. Although no new law has been established, New World has been advised that pre-existing rights would be respected within the new mining law.”
After discussing with the Ministry the agreements signed between the company and the local municipality near Pastos Grandes, and a subsequent presentation of the preliminary brine chemistry results from Pastos Grandes, the company was invited to join the Scientific Support Committee.
New World President John Lando comments, “The warm reception that we received from the Mining Ministry of Bolivia is encouraging. Although a new mining law is not yet finalised, at the senior level of the ministry we were clearly assured that pre-existing rights will be respected under the new law. This assurance along with the invitation to join the Scientific Advisory Committee gives us confidence that we will be able to further develop Pastos Grandes and the company’s Lipeña copper-gold project.”