Thursday, June 26, 2008
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New Plan For Venezuelan Gold Mine Expected
Peter Koven, Financial Post Published: Thursday, June 26, 2008
Crystallex International Corp. expects to submit potential modifications to the Las Cristinas project over "the next several days" to Venezuela's government, Robert Fung, chief executive, said at the company's annual meeting yesterday. Toronto-based Crystallex was effectively blocked from constructing a gold mine at Las Cristinas last month, when Venezuela's Environment Minister banned permitting for open-pit mining. But on Tuesday, the company reported that it is back in talks with the government over changes to its mine plan that would minimize the environmental impact. That could potentially allow Crystallex to receive the long-awaited permit needed to build the mine. Mr. Fung confirmed yesterday that Crystallex should not have to do any more technical studies before submitting suggested modifications, so they should be done soon.
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