BCV standard gold trading in joint ventures
The Central Bank of Venezuela (BCV) issued a new regulation on the marketing scheme of gold and its alloys, which demarcates the scope of the mining enterprises, even in training.

It was learned from official sources that although the Ministry of Basic Industries and Mining (Mibam), says negotiations with transnational gold, for the purposes of consolidating companies with majority state or fair (50% -50%) to develop mining projects, the BCV that these mixed companies "to be used for the domestic market at least 50% of its production, resulting in each calendar quarter, and 25% shall be offered for sale, necessarily" the Central Bank and the other 25% is allocated to the sector local processor.

This resolution 09-06-03, published in the Official Gazette number 39201, 09-04-03 repealing the recent data. And it noted that under the Mining Act, small-scale mining, "can make the export of ore and alloy, which should be designed to demonstrate to the domestic market, at least 15% of its production gold calculated in a calendar quarter, within the national territory. "

Emphasizes the rules that "the export of gold and its alloys, will be approved or denied by the BCV. And he reiterated that any natural or legal person, public or private, shall allocate to the domestic market, at least 70% of its total gold production, 60% will be offered for sale, obligatorily BCV and 10% to the processor; the remaining 30% will be exported.