Russia will cooperate with Venezuela in various areas of the mining sector

(Press Mibam 17-11-08) The Government of Venezuela through the Ministry of People's Power for Basic Industries and Mining (Mibam), in conjunction with the Ministry of Industry and Commerce of the Russian Federation and some businesses in that country, carried out projects with the aim of developing cooperation in the areas of scientific, technical, technological, legal and management in the mining sector.

Both States made a commitment with the signing of 4 new cooperation agreements, which took place in the framework of the Intergovernmental Commission V of Russia-Venezuela High Level. The first of these instruments is a Letter of Intent signed with the State Corporation "Technologies" in Russia in order to conduct a feasibility study, technical, economic and financial, to form a joint venture for the development of the mining sector.

This company will be installed in the Venezuelan territory to advance projects aimed at processing gold-bearing material and separating polymetallic deposits defined by the Mibam. In addition to conducting exploration for the development and exploitation of new deposits of polymetallic for the production of alloys.

A second agreement is the agreement with the company Rusal, which includes the installation in the country of an Integrated Industrial Complex for the mining of bauxite, alumina plant with capacity of one million 400 thousand tons per year and a plant aluminum with a capacity of 750 thousand tons of primary aluminum per year.

Also, Rusal and the Venezuelan Guayana Corporation (CVG), support the intention of determining the main parameters for energy supply, which implies a study for the construction of a thermoelectric plant, with the aim of supplying the energy required by business alumina and primary aluminum that will be installed at Los Pijiguaos and Cabruta, state Bolivar and Guarico, respectively.

Another of the instruments signed by both nations to set up a company called Minera Venrus, for the exploration, processing, storage and marketing of gold, as well as development and technology transfer in the area of mining, construction of facilities and gold processing plants.

On the other hand, the Mibam through the CVG, completed an agreement with the company Ruscaolín, with the goal of creating a joint venture whose purpose will be to industrial development for the production of ceramic products and to end so-called "Ciproca," which shall consist of five industries for the production of: tiles, sanitary, crockery, glazed stoneware and ceramics, pottery and hidropinturas to hit.

It is noteworthy that the National Executive promotes the construction of complex industrial processing of minerals and raw materials, as part of policies aimed at strengthening productive chains downstream to ensure the endogenous development of the country, through the exploitation of natural resources.