Venezuela and Rusoro company recover La Camorra and Isidora mines

Minister of Basic Industry and Mines (Mibam) Rodolfo Sanz hailed an agreement entered into by and between the Venezuelan government and Canadian company Rusoro for the mining of La Camorra and Isidora plots, located in El Callao, in the south Venezuelan state of Bolívar. Both projects were formerly in the hands of US Hecla Mining Company.

"An extraordinary agreement" has been reached, as "we recovered sovereignty over the mines, allowing for the participation of international private capital and solving social problems." The communities surrounding the mines "have right to receive the benefits of the wealth produced by such activity," said the senior official.

Sanz stressed that works in La Camorra and Isidora mines will resume this week. According to the minister, the Isidora mine has "a tenor of gold ore between 50 and 70 grams per metric ton. We have gotten more than USD 12 million for social works for miners residing in these communities of El Callao."