Bolivia’s Potosi province is going to study the prospect of restarting a uranium mine at the Cotaje deposit, Carlos Colque, provincial mining secretary, said. Colque said that Potosi provincial government is looking to commence output by 2010 if the reserves are confirmed. The province has invested around BOB2 million ($283,000) in the project. Colque did not say how much uranium the site would produce.

“There’s the possibility of registering and confirming uranium reserves,” Colque said.

Hydrocarbons, especially natural gas, are accounted for over half of Bolivia’s total export revenue in 2008.

Bolivia President Evo Morales said that he wants to diversify the nation’s economy to protect against fluctuations in fuel prices, and International Atomic Energy Agency Director General Mohamed ElBaradei has expressed support for plans to mine uranium in Bolivia.

Freddy Beltran, Bolivia’s Mining Ministry director said that the central government is not involved in the project at the Cotaje deposit. Beltran said a uranium production plant in the same location was closed 25 years ago.