The main reason this is mind boggling is we just don't have the informatioin from the other side. We are left to speculate what is happening at CVG, mibam, and Hugo's mind. The only thing that we can determine is Sanz and Ortega are in at each others throats. Ultimately, Hugo has the final say. I can not imagine Hugo would camcel more open pit mines, since SIDOR is expanding/reogranzing. In addition, Hugo needs more steel and cement for his country's growth. I can see Hugo stance on not wanting to mine coal, since it does not have a pay off with gas so cheap in Venezuela. However, Gold mining is a different ball all together. It certainly has a pay off if mined properly, but does not generate the type of wealth Hugo gets from oil.

I thought Hugo has had a one track mind in the past. He only focused on oil, buying military hardware, and calling bush the devil. He spent little time on the needs of his own country, which was shown to him in the result of the referendum. Only after the referendum do you see Hugo focusing on food supplies, and agriculture. Maybe Hugo will see value in gold mining, since it will give him political support.

In the end the politics of these gold mining projects maybe what wins over the environment. Thus I think the economics is actually playing a more minor role. Economics are important, but to listen to Ortega it would not be enough to sway her decision. However, the potential politicial impact of allowing these projects maybe enough of a pay off for Hugo.

We will just have to wait and see JMHO.