Coeur d'Alene still looking at Bolivia

NEW YORK (Reuters) - Coeur d'Alene Mines Corp. (CDE.N: Quote, Profile, Research, Stock Buzz) is interested in further exploration in Bolivia despite moves by leftist President Evo Morales to reap more benefits from the country's mineral wealth, Chief Executive Dennis Wheeler said on Tuesday.

"We have already expressed to COMIBOL, the state mining company, that we would have interest in joining with them in exploration of other properties in Bolivia," Wheeler said at the Reuters Mining and Steel summit here.

"We have sent them, at their invitation, a letter of interest," he said.

The scale of silver miner Coeur's investment in the country would be open to discussion, Wheeler said, noting that COMIBOL has welcomed the company's interest.

Bolivia plans to hike taxes on mining companies to 50 percent of profit from 35 percent, a mining official there said last week.

Still, Wheeler said he was confident things would go well for Coeur in Bolivia.

"The thinking I'm encouraged about is that the talk has shifted now from a taxation scheme based on gross revenue to one based on net profits. That's a scheme that we all like to see in the free enterprise sector," he said.

Wheeler also said the company's San Bartolome mine in Bolivia was on track to start production in January.

"San Bartolome is proceeding on budget and on schedule," he said. "We've had very strong support from the local community, the district government and the administration of the president. We're doing very well there."