Venezuela refuses to grant extension Reserve Gold Mine Brisas
Monday May 25 2009 11:39 GYT Print [-] Text [+] CARACAS (Reuters) - Venezuela denied a request by a subsidiary of Canadian mining Gold Reserve to extend a grant in the Brisas gold project, informed the Ministry of Basic Industries and Mining through the Official Gazette that circulated on Monday.

Moreover, the resolution declared extinct on the granting mineral rights in the barrage curassows for exploration and exploitation of gold and diamonds in southern Latin America.

The ministry claimed that Gold Reserve "is not solvent with the Republic," it proceeded to not renew the grant, which expired on July 20, 2008.

(By Ana Isabel Martinez, edited by Enrique Andres Pretel)