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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: the thought for the week

the thought for the week

posted on Apr 15, 2008 02:41AM
Government reviews mining concessions Tuesday, 15 of April of 2008 the minister of Basic Industries and Mining, Rodolfo Sanz, informed that he was authorized by president Hugo Chávez to review all the mining concessions, and that are opening procedures to many companies by irregularities. A particular case is the one of the Russian company Agapov, that has been denounced by the miners. Caracas. - "we have mentioned representatives of the company to inform to them that they must fulfill what they offered to him to the miners. It is already enough that the companies come to operate concessions, evacuate the old miners, place them in the street and they do not pay ", said to the press the minister to them of Mining, Rodolfo Sanz. At noon, the civil employee had talked about Mining the Promotora company of Guayana (PMG), one of the greater gold producers in Venezuela, property of the GoldFields South African from 2006, but in afternoon he clarified that he is Agapov. "Friday we will establish a work table so that the company gives answer to the situation of the miners, consisting of cancelling an indemnification that granted to some people the company PMG that was acquired by Agapov", said Sanz after meeting with representatives of the Russian miner. Near 600 miners which they operated the zone of the Callao in the state Bolivar (650 km to the Southeastern of Caracas), where PMG transferred concessions to him to Agapov, demand to the Russian company the payment of an indemnification of 50,000 bolivars (23,250 dollars). "president Chávez has authorized to review all the concessions to me, that already have been granted, other that are in process, other that they are about to to expire, and we are opening procedures to many companies", added the minister. In that company, the Venezuelan State had the past in a participation of 30% of the actions, remembered east Monday minister Sanz. "I am reviewing what happened with that sale of actions to revert what it is possible to revert so that we pruned to recover the percentage of actions that was sold in 6 million dollars", it indicated the minister. The auriferous production in Venezuela happened of 5.9 million annual tons in 1999, to 24 million tons in 2004, according to the Venezuelan Camera of Mining. (AFP)
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