summary from ASS/PRESS in plain english

Venezuela: Private miners not excluded from gold

45 minutes ago

CARACAS, Venezuela (AP) — Venezuela's mining minister says the state is not ruling out the participation of private companies in its gold and diamond mines.

Rodolfo Sanz says Venezuela will take control of its "strategic minerals," but private companies could also have a stake.

President Hugo Chavez said earlier this month that a joint venture between Venezuela and a Russian-financed company would exploit the country's gold resources.

He said the company formed last year would develop Las Cristinas, Venezuela's largest gold mine. Toronto-based Crystallex International Corp. said it had not been informed of any changes to its exclusive rights to the mine.

Sanz said Thursday that gold mining concessions are being reviewed on a case-by-case basis.