October 28, 2008 | Reference: Reference: The National



The time restriction? N the cr? Dito product of the international financial crisis affecting the development of mining projects that need venture capital for implantation? N in Venezuela, said Luis Alejandro Rojas, vice president of the C? Mara Minera.

Rojas spoke? to the case of the Canadian company that Gold Reserve hab? in fact an order of machinery for the project Brisas del Cuyun?, as the Bull? var, and has now seen the need to suspend the application because the conditions the business environment changed and with them the dimensions of development.

This project will operate? a? area adjacent to the mine Las Cristinas, which has estimated reserves of 10 million ounces of gold. The Investment? N was originally scheduled for 1 billion of d? School, an amount that will have? to be reduced.

The vice president of Camiva explained? that industry has to tackle a global shortage of equipment perforaci? n 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 spoke?, In addition? S, the bill of mine that prepares the national executive. Se? To? that the C? chamber has not received any information? No official on the content of the legal text, but believes that should not vary too much with regard to the project that was consulted in 2006.

Add? Approval that? n this instrument requires the promulgation? No other laws, such as the ordenaci? n of the territory and the forest, which provides articulated frameworks for the development of mining activity.