Bolivia's Comibol and Sergeomin Sign Five-Year Geological Exploration Cooperation Agreement

en.Wedoany.com Reported - On August 20, Bolivia's National Mining Company (Comibol) and the Geological and Mining Service (Sergeomin) signed a five-year inter-institutional cooperation agreement in La Paz, under which the two parties will jointly advance geological and mineral exploration work in areas owned or exclusively used by Comibol. The agreement was signed by Comibol's Interim Executive President José Fernando Córdova Eguivar and Sergeomin's Executive Director Jorge Bellot La Torre.

Under the division of responsibilities set out in the agreement, Sergeomin is in charge of the technical execution of exploration surveys, geological and mineral exploration activities, with both parties jointly coordinating subsequent stages of work. The specific scope of work will be determined based on the specific characteristics and technical requirements of each area and project, and may cover topographic surveying, geological mapping, geochemical and geophysical studies, drilling exploration, and mineral resource estimation, among others. The agreement establishes a coordination mechanism between the two parties in exploration projects, whereby future preliminary exploration data from mining areas under Comibol's jurisdiction will be generated through Sergeomin's systematic operations.

Founded in 1952 following the nationalization of Bolivia's mining industry, Comibol is the country's largest state-owned mining enterprise, responsible for the development and commercialization of polymetallic minerals including tin, silver, zinc, lead, and lithium. It holds development rights to world-class mineral resources such as the Salar de Uyuni. Sergeomin is Bolivia's specialized national institution responsible for geological surveys, mineral exploration, and technical services, undertaking the functions of national basic geological research and mineral resource potential assessment. The synergy between the two institutions is considered a key link in achieving Bolivia's mining policy goals of "industrialization and nationalization."

Bolivia is located at the core of South America's "lithium triangle," with globally leading lithium reserves, while also possessing abundant strategic minerals such as tin, silver, and antimony. Since 2020, the Bolivian government has continuously advanced technical cooperation and investment attraction in the mining sector, signing lithium resource development and direct lithium extraction technology cooperation agreements with several international companies. The exploration agreement signed between Comibol and Sergeomin is regarded as another institutional arrangement for Bolivia to systematically revitalize state-owned mining area resources and fill geological data gaps.

The agreement represents a continuation and upgrade of the technical cooperation between the two parties since 2002—when Comibol and Sergeotecmin signed an agreement to carry out geological and mineral information generation and resource estimation work. The new agreement is valid for five years and may be renewed upon mutual consultation. Following the signing, the two parties will initiate the formulation of exploration work plans for priority areas, though specific minerals, the first batch of work areas, and budget amounts have not yet been disclosed.