MOSCOW, August 6 – RAPSI. Canadian mining company South American Silver (SAS) is determined to receive compensation from Bolivia’s government for having nationalized the company’s Mallku Khota mine, according to a communique issued by the company.

In early June, Bolivian peasants held protest rallies against the company in La Paz. The rallies resulted in clashes with the police, and several SAS employees were taken hostage.

After meeting with the peasants, Bolivian President Evo Morales decided to nationalize the company’s mine and to cancel its license to extract silver, indium and other minerals.

In response, the company reported that it hopes to receive compensation from the Bolivian government and is determined to enter into talks with them.

If the parties fail to reach an agreement, the company will seek compensation in the amount of the actual value of the project through the International Commercial Court.

In an effort to appease its shareholders the company’s management pointed out that previously, certain officials had publicly recognized the need to pay compensation.

Bolivian Vice President Alvaro Garcia said recently that the government will return all the losses incurred by the Canadian company.