17/06/2009: New resolution on the regime of BCV marketing of gold and its alloys


In Official Gazette No. 39201, dated June 16, 2009, issued Resolution No. 09-06-03 BCV, containing the "Regulations on the Rules of Marketing and Gold Alloys," which replaces the Resolution No. 09-04-03 dated 30/04/09. This new resolution will enter into force on 22/06/09.



These rules are designed to encourage productive investment, create new jobs in the gold sector and the development of processing industry, enabling companies of those projects in which entities of the Republic or the National Administration have direct or indirect participation equal to or greater than fifty percent (50%) of the capital, aimed at the exploitation of gold, they must devote to the domestic market at least fifty percent (50%) of its total gold production in this regard, 25% shall be offered for sale obligatorily BCV and the other 25% to domestic processing industry. The remaining 50% will be exported.



Additionally, it confirms the previous regime for small and medium mining, which will continue with rates up to 85% for exports and at least 15% for the domestic market until they can provide logistical and operational services by the BCV, by the presence in the area through a program of collection centers.



For other companies, public or private, is the regime established by Resolution prior, ie one should spend 70% of its production to the domestic market, in proportions of 60% to BCV and a mandatory 10% to processor, while the remaining 30% will be exported.



In this way, the Institute maintains its constitutional duty and their commitment to contribute to economic growth and social development at both regional and national level, exploiting the potential of the gold sector to strengthen international reserves.