Bolivia's mining exports hit record high in 2011

Bolivia's mining exports reached a record high of 3.398 billion U.S. dollars in 2011 against 2.405 billion dollars in 2010, the Bolivian Mining and Metallurgy Ministry said Tuesday. Mining exports increased by 993 million dollars, up 41 percent from 2010, Mining Minister Jose Pimentel said. "Last year was a good year for mining because exports grew by a large percentage due to the high prices," Pimentel said, adding that he hoped the trend would continue as it promotes the growth of the country's economy. According to the Bolivian Institute of Foreign Trade, traditional exports including mining and gas amounted to 6.876 billion dollars as of November 2011, up 40 percent compared with 2010. Pimentel said the soaring international prices for metals such as gold, tin, silver and zinc made 2011 a "great year" for the Bolivian mining industry.