El Diario de Guayana

Government assumes control of mining companies in the South
Thursday, September 18, 2008

The state-ownership of several companies will be announced today at La Camorra by the president, Hugo Chávez, who will arrive at 10 o'clock in the morning.

Isidro Casanova


One of the profiles of the construction of new gold processing plant in La Camorra area.

In facilities that were Hecla Venezuela, in La Camorra of El Dorado, Sifontes municipality, the president of the Republic Hugo Chávez, formalised today, the receipt by the Venezuelan State, major gold companies, located in the municipalities South.

According to information we have, the President will make an announcement today at 10 o'clock in the morning, in an address, which will probably cover the assumption of several gold companies, which were in the hands of industrialists Canadians, Americans and Chinese. The package of nationalized industries, now make up the National Mining Company. In the negotiations of companies, has been intervening directly, the minister of Basic Industries and Mining, Rodolfo Sanz, with support from engineer Luis Herrera, president of CVG Minerva.

The sources informants expressed that the transfer of gold companies to National Government, there were no major problems. The same minister Sanz said that regarding Hecla, the owners of this company resigned, while resolved to close operations in the country. Regarding the assets, these agreements were negotiated and there was mutual.

Las Cristinas-Brisas are something else

Within the expectations aroused the president's visit in the world of the gold mines of Guyana, are projects Las Cristinas and Brisas del Cuyuní.

It has been reported that the mayor Marlene Vargas, who accompanied the President in his tour, used to express the importance of the municipalities in the South, at the opening of these two projects. According to Vargas has transcended the mayor refer to the President to sources from the Ministry of Environment have expressed that the two projects, whose final permits were not approved, they left open the possibility of reformulating the proposal environmental and here are the company Crystallex operator Las Cristinas and Brisas del Cuyuní, operator of the Gold Book Corporation. It should be pointed out also that the Las Cristinas project, a major reservoir in the Claritas, Sifontes municipality, with tenors tested by nearly 14 million ounces of gold, is owned by the CVG and Crystallex company which has a contract operation , So this project is also in the social sphere.

Socialism gold

Companies that are being estatización, become part of the programme of socialist production.

What was Hecla de Venezuela: The company that held for 20 years, a concession in the area of La Camorra, is the major private investment that's going to the State although ownership is shared 50-50 with the group Agapov Mining. This group of Russian capital, has significant investments in gold and kaolin, between kilometer 88, El Callao and Guasipati. Along with the investments that had Hecla in La Camorra, the state passed to other investments made in the mine Isidora of El Callao. This shift was formalized by Mibam stock.

Jin Yan of Venezuela: This Chinese capital company, although smaller investment, also happens to the socialist enterprise. Jin Yan operated the mine Sosa Mendez of El Callao, through a permit issued by CVG Minerva. The Chinese failed to build the processing plant, so the shift is more convenient. For nearly 10 years, the Chinese exploited gold material and what led to the Minerva plant for processing.

Revemin-Tomy-Crystallex: The latest negotiation is not over but it was said that there are mutual agreements. Crystallex has lots concessions in El Callao and municipalities Roscio. The mine Tomy and other neighboring mines are being operated by a company called Minera Bonanza, subsidiaries of transnational corporation Canadian Crystallex. The company has installed in El Callao Revemin the flat, where processed materials Bonanza, La Victoria and others.

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