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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: El Diario de Guyana

Re: El Diario de Guyana

posted on May 21, 2009 05:16AM

Rafael Gil, Secretary General of Sinatracon declared that being little probable that the Government gives reverse gear with the decree on the gold, he must guarantee the work to the personnel who toils in the companies of Russian capital which according to they noticed, are affected and than under the new conditions they will not be able to continue working. - I have information - Gil- expressed that the Russian group initiated conversations with the high Government to determine how they are the investments that did especially in Venezuela and, in the municipalities of the South. I believe that the Russians do not have problems. They go away with indemnifications and as he is, the problem we have we them workers who we will lose our uses. In such sense, we waited for an uprising of the Government saying what is going to do with us who we are absent of the created problem. He must take into account that is in the Inspectoría of the Work the new collective contract, which is in the heat of discussion. To the workers the use in Rusoro is to them attractive from the Russian group, inasmuch as good wages pay, so good that they double the wage that pays CVG Minerven that is a company of the State and also the gold explodes.

What I get out of this is that the new law won't change but the government will allow the Russians to be profitable by cutting them slack somehow. I wonder if the same "slack terms" would be extended to potential Russian investors in Las Cristinas assuming there is a deal in the making. Reading between the lines....this approach might be a way of encouraging investment by Russians to the exclusion of others. Pass a general law that screws everyone and then selectively make exceptions to your "friends"..

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