Here you go MOM,

The restriction of credit product of the international financial
crisis affecting the development of mining projects that need venture capital for implantation in Venezuela, said Luis Alejandro Rojas, vice president of the Mining Chamber.

Rojas pointed to the case of the Canadian company Gold Reserve who had ordered major machinery for the project Brisas del Cuyuni, in Bolivar state, and has now seen the need to suspend the request due to environmental conditions business with them and varied dimensions of development.

This project will operate in an area contiguous to the mine Las
Cristinas, which has estimated reserves of 10 million ounces of gold. The investment was originally scheduled for 1 billion dollars, that amount will be reduced.

The vice president of Camiva explained that the industry has to
tackle a global shortage of drilling rigs caused by the rise of
exploratory fishing operations around the globe. A lack of equipment joined the arrears for granting environmental permits and the difficulty in finding funding for international banking.

New law.
Luis Alejandro Rojas pointed also to the bill of mine that prepares
the national executive. He noted that the House has received no
official information about the content of the legal text, but
believes that should not vary too much with regard to the project
that was consulted in 2006.

He added that the adoption of this instrument requires the enactment of other laws, such as land-use and forest, which provides articulated frameworks for the development of mining activity.

http://www.entornointeligente.com/re...