Welcome to the Crystallex HUB on AGORACOM

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

Free
Message: from billypesos on yahoo...mining legislation

from billypesos on yahoo...mining legislation

posted on Jul 16, 2008 04:38AM

Venezuela nears new mining law

Herald News Service

Published: Monday, June 30, 2008

Mining - Venezuela may send a new law to the legislature within the next month that would lead to more joint ventures between the government and mining companies, said Rodolfo Sanz, the minister of basic industries and mining.

The law won't be implemented under President Hugo Chavez's decree power, Sanz told reporters today in Caracas. That power is set to expire next month.

Mining companies in Venezuela have awaited the new law for more than a year. In Venezuela's oil sector, companies have to work through joint ventures that are at least 60 per cent owned by the state.Asked about whether Spokane, Washington-based Gold Reserve Inc. and Toronto's Crystallex International Corp. will be able to continue operating in Venezuela, the minister declined to comment.

Share
New Message
Please login to post a reply