Breaking News!

Confusion reigns after Environment Minister Yurivi Ortega pre-empted an official statement by President Hugo Chavez Frias and released her own claim that open-pit gold mining in the Imataca Rainforest Reserve will NOT be permitted.

"CRYSTALLEX CAUGHT IN THE MIDDLE OF A POLITICAL ****ING CONTEST!"

IF INDEED Ortega's word is the official decision of President Hugo Chavez is not yet clear ... but it flies in the face of years of careful negotiations to safeguard the environment in Venezuela's gold-rich mining region and is a death-blow to the aspirations of thousands of impoverished Venezuelans who were expecting employment under a 40-year contract between Crystallex International (Toronto) and the Venezuelan Guayana Corporation (CVG).

We do NOT believe 'the fat lady' has sung the final verse in the Las Cristinas Saga

Grassroots organizations in southeastern Venezuela have already called for a consultative referendum to over-rule any adverse decision on their economic future and VHeadline sources point to Ortega's surprise announcement as further evidence of a bitter 'behind-the-scenes' battle with CVG president and Mining Minister Rodolfo Sanz. The latter has pledged his extensive diplomatic career on dealing forcibly with the corruption and indolence that presently pollutes just about every level of the Venezuelan administration.

WE WILL CONTINUE TO MONITOR!

A COMPLETE DENIAL of the final permit for Crystallex International to begin work under contract with the Venezuelan Guayana Corporation (CVG) must in fact be announced by President Hugo Chavez (as was pledged last Friday by Ortega herself).

Failure to give the necessary approvals
will send strong signals to the international financial community and help label Venezuela as a pariah for any further foreign investment