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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Re: CALLED RM
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Feb 29, 2008 07:10AM
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Feb 29, 2008 07:23AM

Boss Kent,

Yes I agree with you the Vens are very efficient in releasing some permits.

Do you recall reading an article awhile back when Chavez was restructuring the Ven Govnt he was going to to make his Minister's more accountable for their actions?

Someone had voiced this was the delay in final permit delivery to Crystallex , as Yurri was hesitant to sign off until all the environmental issues were resolved to Vens liking.

This was an article I had read after the Gold Reserve announcement occurrence last year. News Article from El Universal of July 11/07. Venezuelan government takes its time to clear gold exploitation

Granting of permits for gold exploitation on south Venezuela is being assessed at leisure, because the economic benefit is lower than potential environmental damages, said Wednesday the Ministry of the Environment.

Canadian Crystallex has waited for years the permits from the Ministry of the Environment and the Ministry of Basic Industries and Mining (Mibam) to develop Las Cristinas, a mine considered as one of the largest gold reservoirs in the world, Reuters reported.

For its part, Canadian Gold Reserve got months ago a construction permit for the small mine Brisas, a neighbor of Las Cristinas, in southern Bolívar state. However, it is still waiting for the exploitation license.

"We are making a comprehensive review of these applications for exploitation," said Minister of the Environment Yuvirí Ortega during a press conference. "Mining has caused most serious damages to the country," she added.

Is this the permit delay or are we looking at a multitude of other political reasons?

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Feb 29, 2008 08:39AM

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