Venezuela to Limit Gold Mining in Bolivar State, Nacional Says

By Daniel Cancel

Aug. 17 (Bloomberg) -- Venezuela will limit gold mining in the mineral rich Bolivar state to a 4 million hectare (9.8 million acre) area along the Cuyuni river bed, El Nacional reported, citing Deputy Environment Minister Merly Garcia.

The government is trying to reduce the environmental impact that mining has in the Imataca Forest Reserve and will limit mining activities in the jungle region, the newspaper said.

Gold mining companies such as Crystallex International Corp. and Gold Reserve Inc. are waiting for the government to approve their concessions in the region, El Nacional reported.

To contact the reporter on this story: Daniel Cancel in Caracas at dcancel@bloomberg.net

Last Updated: August 17, 2008 12:45 EDT