Silver Elephant Mining Corp.: Reinstating the Mining Production Contract with Comibol
Vancouver, BC – Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE:1P2) (“Silver Elephant” or the “Company”), a mineral exploration company, recently released an update on its ongoing efforts to reinstate the Mining Production Contract (MPC) with Corporacion Minera de Bolivia (Comibol). The MPC, initially signed on October 3, 2019, granted Silver Elephant the exclusive rights to develop 2,803 hectares of the Pulacayo-Paca Project in Bolivia.
Background of the Pulacayo-Paca Project
The Pulacayo-Paca Project is a significant mineral exploration project located in the Department of Potosi, Bolivia. The project is known for its potential silver, zinc, and lead deposits. The MPC was suspended in 2020 due to various reasons, including administrative issues and the COVID-19 pandemic. Silver Elephant has been working diligently to address these challenges and reinstate the contract.
Update on the MPC Restoration Process
In the news release dated April 2, 2025, Silver Elephant announced that they had held productive meetings with Comibol and the Ministry of Mines. The discussions focused on the necessary steps to reinstate the MPC. According to the Company, the following actions have been taken:
- Submission of a formal application to the Ministry of Mines for the reinstatement of the MPC.
- Payment of the required fees and taxes.
- Engagement of a local Bolivian environmental consultant to address any environmental concerns.
- Commitment to adhere to all Bolivian laws and regulations.
Impact on Silver Elephant and the Mining Industry
The successful reinstatement of the MPC would be a significant milestone for Silver Elephant. It would allow the Company to resume exploration activities and potentially discover new mineral deposits. Moreover, it would demonstrate Silver Elephant’s commitment to working collaboratively with the Bolivian government and adhering to local regulations. This positive development could also boost investor confidence in the Company and the mining industry as a whole.
Global Implications
Beyond Silver Elephant, the reinstatement of the MPC could have broader implications for the mining industry and international business relations. It would showcase Bolivia’s willingness to engage in productive discussions with foreign investors, potentially attracting more companies to explore and invest in the country’s rich mineral resources. Furthermore, it could set a positive precedent for other countries dealing with similar challenges, encouraging a more collaborative approach to resolving commercial disputes and fostering international business relations.
Conclusion
In conclusion, Silver Elephant Mining Corp.’s efforts to reinstate the MPC with Comibol are a promising sign for the Company and the mining industry. The successful resolution of this issue could lead to the resumption of exploration activities, increased investor confidence, and a more collaborative approach to international business relations. As the situation unfolds, it is essential to stay informed about the latest developments and their potential implications.
