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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: Forestry law

Re: Forestry law....here we go

in response to by
posted on Jun 12, 2008 06:31AM

if this article is true then we are very close to finding out..sounds like some additional taxes and maybe a "must sell the gold to venz" clause....

It is intended that a final draft of the Forests Act (to replace the existing 40-year-old Forestry, Soil & Water Act) should be included in a series of legal measures to be approved by President Hugo Chavez Frias under special powers included in the Enabling Act which allows him authority to issue discretionary decrees.

The text also suggests increased taxes for taking advantage of native forest timber and encourages the use of non-timber plantations as a source of raw materials.

Article 78: The allocation of plots in forested areas that are the property of the nation or privately owned, for development by government agencies, projects and activities of public interest, must be approved by the competent organ after an evaluation of environmental impacts and consultation with local communities. The forest assets resulting from these effects must be placed at the disposition of the National Executive

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