The firm said it strongly opposes the actions and reserves its rights to seek fair compensation pursuant to all available domestic and international remedies.
It’s immediate focus is on an orderly transition of the mine to state control and the well-being of its employees.
Glencore has paid Bolivia more than $70m in royalties, taxes and fees for operations at the Colquiri mine.
The company has paid more than $300m for all its operations to the Government and to the Bolivian state mining company Comibol and invested a total of $80m across its operations plus $22m in Colquiri.
The nationalization of the Colquiri mine was announced just as Glencore was renegotiating its mining contracts with the government.
Glencore would have committed to investing over $160m, of which at least $56m was allocated to the Colquiri mine over the next five years, under the new agreement which will not take place.
