PR - Letter from MinAMb - read it it is GOOD NEWS
posted on
Aug 22, 2008 04:14AM
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
Cristinas Project And A Letter From The Ministry Of Environment>KRY.T
TORONTO, ONTARIO--(Marketwire - Aug. 22, 2008) - CRYSTALLEX INTERNATIONAL
CORPORATION (TSX:KRY)(AMEX:KRY) wishes to advise its shareholders and
stakeholders that it has received an official letter from the Venezuelan
Ministry of the Environment and Natural Resources ("MinAmb") in response to the
report on modifications to the Las Cristinas project ('report") submitted to
MinAmb and referred to in the Crystallex press release of August 14th 2008. The
communication from the Vice-Minister of MinAmb, notified Crystallex that MinAmb
has reviewed the Report submitted by Crystallex and finds that the proposals in
the report are viable and conform to the Environmental and Social guidelines of
the Venezuelan Government. The Ministry further advises that these findings
must be taken into account with respect to the decision the government is to
take regarding the Environmental Permit ("Permit") for the Las Cristinas
project.
Although the letter from MinAmb does not formally address the Appeal procedure
initiated by Crystallex in May, 2008, Crystallex has been advised by Venezuelan
Counsel that in practical terms this letter supersedes the effects and position
of the April, 2008 letter from a Director General in MinAmb denying the request
by the Corporacion Venezolana de Guayana ("CVG") for the issuance of the Permit
for the Las Cristinas gold project.
Background
On April 30, 2008 Crystallex reported that it was advised of a letter from a
Director General in MinAmb denying the CVG request for the issue of the Las
Cristinas Environmental Permit. On May 12, 2008, Crystallex submitted a formal
rebuttal of the Permit denial letter to the Director General and on June 17,
2008, submitted an appeal directly to the Minister of MinAmb.
On June 24, 2008, Crystallex was invited to a meeting attended by
representatives of MinAmb including the Vice-Minister. At the meeting,
Crystallex was informed that the Vice-Minister and MinAmb had been instructed
by the Government of Venezuela to reconsider the issuance of the Las Cristinas
Permit. To that end, discussions with Crystallex for possible modifications to
the Las Cristinas Project to diminish the environmental impacts of the project
and thus enable the Permit to be issued began. The modifications suggested by
the MinAmb representative fell within three main categories:
- Further improvements to optimising the social projects in the area.
- Mitigating the impact of open-vein mining in the currently affected areas of
the Imataca Forest Reserve.
- Improving the remediation plans at the end of the mine life as well as
repairing existing environmental damage caused by illegal mining.
The Company prepared a report which addressed these three areas and which was
submitted to MinAmb earlier this month. In addition, as a part of the process
towards the issuance of the Permit on August 7th and 8th, 2008, a team from
MinAmb led by the Vice-Minister completed a site visit of the Las Cristinas
Project. As part of this visit, the team inspected the social projects
including the medical clinic and sewage treatment facility which are both
currently under construction.
Commenting on the letter, Mr. Robert Fung, Crystallex Chairman and CEO stated,
"We are very pleased to receive this formal correspondence moving the process
toward our goals of the issuance of the Permit and the subsequent construction
phase of the Las Cristinas Project."