Haven't seen the agreement between CVG and MIBAM, but I have repeatedly heard CVG refered to as the concession owner. CVG was established by law and has some kind of jurisdiction over 52% of VZ for mining purposes. CVG is a major player in the mining business and is the holder of many concessions across VZ. I think that the concession reverted to CVG when Placer dome defaulted and sold at the last minute to Vanessa. It went through the VZ court system and CVG's position was upheld. They got the concession. Mind you, Vanessa is seeking compensation in international arbitration.

Hard to believe that VZ would break or breach a contract with its own creation. More likely they would renogiate, hopefully in good faith, with all the interested parties. I agree that the situation is complicated and as the saying goes, the devil is in the details.