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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
Message: Permit process and Timelines
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This is a portion of the latest Crystallex 6K filing taken from the SEC web site.
http://www.secinfo.com/d18TY3.tsv.htm
The Company is continuing its efforts with the support of Venezuelan governmental agencies to advance the Las Cristinas project which will create significant employment, healthcare facilities and sustainable development for the surrounding communities.
In an effort to clear up any misinformation regarding the Venezuelan permit process and timelines, the Company has outlined environmental permitting milestones:
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April 2004 – Crystallex and the CVG submit a draft Environmental Impact Study for Las Cristinas to the Ministry of the Environment and Natural Resources for consideration. The Submission of the Environmental Impact Study in April of 2004 started the environmental permitting process which included extensive dialogue, questions, meetings, and hearings between Crystallex, the CVG and the Ministry of the Environment and Natural Resources. |
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August 2004 – Land Occupation Permit for Las Cristinas confirmed by the Ministry of Basic Industry and Mines. |
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March 2006 – Ministry of Basic Industry and Mines approves Las Cristinas Feasibility Study and development plans. |
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June 2007 – Ministry of the Environment and Natural Resources approves Las Cristinas Environmental Impact Study. |
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June 2007 – Ministry of the Environment and Natural Resources requests Construction Compliance Guarantee Bond and Environmental Taxes, the final steps before processing and issuing of the Las Cristinas Environmental Permit. Crystallex posts the Construction Compliance Guarantee Bond and pays the Environmental Taxes. |
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October 2007 – Ministry of the Environment and Natural Resources Officials testify to National Assembly that all requirements for Las Cristinas have been fulfilled and that the Environmental Permit will be issued. |
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April 2008 – CVG receives letter from a Director General in the Ministry of the Environment and Natural Resources questioning environmental aspects of project and indicating all mining activities in region are illegal. |
For Further Information:
Investor Relations Contact: A. Richard Marshall, VP at (800) 738-1577
Visit us on the Internet: http://www.crystallex.com or Email us at: info@crystallex.com
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