SHANGHAI, July 12 -- The Bolivian government has approved 73.6mn bolivianos (US$10.2mn) to finance infrastructure works and equipment for the construction of state-owned tin producer Vinto's Ausmelt furnace, a company executive told Business News Americas "The money guarantees the works for the furnace's installation will begin," the executive said. The loan is for five years, with a one-and-a-half year grace period.

In a separate report by BNAmericas. the Bolivian mining and metallurgy ministry said that it will start new exploration in several mining areas in Oruro department, where there is evidence of lead, copper, silver and tin. "There are high expectations for mining in the region and we are interested in developing areas that could provide jobs," the spokesperson said. The Vinto smelter and Huanuni mine are both in Oruro province.