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Modifications Accepted by MinAmb (Aug ’08):
- Open pit mining represents the only viable mining method
- Additional reforestation programs
- Phased development and reclamation of the tailings management facility
- Concurrent clean-up of areas impacted by illegal mining activities
- Design transportation system for local communities
- Assist in formation of local water company
- Design plan for promotion of tourism in area
Corporate & Social Responsibility
- Supporting local communities with long-term employment, training, education, economic development, local infrastructure and health care
- Constructed 30 new homes for local residents
- Installed 3 water treatment plants
- Established anti-malaria facility
- Installed sewer networks
- Paved local roads
- Upgraded local medical center, providing staff, and ongoing medical supplies for the center
- Constructing new medical clinic and sewage treatment plant – due to be completed early 2009
- Funding local education scholarship and internship programs
- Providing ongoing job training programs to small miners’ associations
Las Cristinas mine reclamation and revegetation programs
- Native plant nursery on site
- Test plots for reforestation underway
- Concurrent reclamation during operations
Key Investment Considerations
- Crystallex has been developing gold mining projects in Venezuela since the early 1990s (Albino, Tomi, La Victoria)
- Las Cristinas is one of the World’s largest undeveloped gold deposits
- Venezuela has excellent infrastructure (highways, ports, airstrips, accessibility to power, low energy costs)
- Strong community support; local, regional and national government support
- Long history of gold mining in the region
- Large labor pool eager for work
- Project at advanced stage of development with considerable expansion potential
