El Universal

Caracas, Wednesday September 17, 2008

Deadline to realize price Sidor expires on September 30

The Minister of Basic Industries and Mining, Rodolfo Sanz, said that the talks are held with Ternium to realize the value of the shares of Sidor and noted that the period of negotiations expires on September 30.

Although official sources have indicated that the value would be set at 1.6 billion dollars, Sanz did not want to specify the amount and reiterated that "we remain in discussions."

In Puerto Ordaz, for the second consecutive day of the recruits protested in the steel door of the administrative building of Sidor in demand for wage improvements and the start of the transfer of 8 thousand outsourced payroll directly to the plant.

Faced with claims, was installed yesterday that the commission will review the status of those hired. Beyond the protest, transpired that there were operational problems in the steel mill with 150 damaged by the oxygen valve that uses the area, which affects the production of bars.

This Law of Mines
Moreover, the owner of Basic Industries commented that in this second session will be delivered to the National Assembly Law of Mines. Although Parliament was working on a legal framework that created joint ventures in the sector, Sanz said that the text will be further adjustments, but gave no details.

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