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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

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Message: Re: Venezuelan President Hugo Chavez said on Friday he is "taking back" mines
1
Sep 19, 2008 02:54PM

Quite different from the reuters article.

Caracas. - President Hugo Chavez said that his Government is reclaiming great mines in the south of Venezuela, without specifying which, in the middle of a big wave of nationalizations that have affected the vital sectors of the economy. Venezuela is reviewing the mining concessions, which could affect the development of the auriferous deposits the Cristinas and Brisas, whose operation looks for Canadian years the Crystallex and Gold Reserve. " Back in Guayana for example, we are reclaiming great mines, and one that is of greatest of the world, they know of what? of gold, gold! That has taken it of our country for a long time, oro" , it assured Chávez in an act with women his socialist party, informed Reuters. The Cristinas is catalogued like one of the majors not developed auriferous deposits of the world. In May, the minister of the Atmosphere, Yuvirí Grouse, said that neither public, nor deprived companies, would operate gold of the forest reserve Imataca, where are the mines the Cristinas and Brisas. Nevertheless, Crystallex, that hopes the permission to operate the Cristinas, said at the beginning of September that the conversations with the Venezuelan Government were encouraging. The Venezuelan Government has been studying by long time a new mining law that, according to experts, could include a scheme similar to the adopted one for the oil operations in the country, in that the State must conserve the majority shareholder. In the auriferous sector of Venezuela also companies like the Russian-Canadian Rusoro participate that recently created a mixed company with the State to develop some deposits of the mineral.

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