Russian company signs agreement to exploit gold in the country

Published at 12:15 PM on July 27, 2009 | The World



The Venezuelan government today and tomorrow should be an agreement to exploit
gold in the country with a Russian company.

This is Rusoro Mining, then the partnership with the state, is called Venrusca.

The two countries nearly two years ago made this commitment with the signing of
four cooperation agreements, which were conducted in the V High-Level
Intergovernmental Commission VenezuelaRusia.

Unofficially it was learned that the meeting could begin talks seeking $ 6.000
billion that businesses need to CVG to achieve technological adaptation, after
nearly 15 years of disinvestment.

Minister for Basic Industries and Mining Rodolfo Sanz said last week that an
assessment of whether such investment shall be done by issuing bonds supported
on gold reserves.

The Mibam, through CVG, completed an agreement with the company Ruscaolín to
build a mixed industry for the production of ceramics and associated products
called "Ciproca.

This will produce tiles, toilets, dishes, ceramics, glazed stoneware, ceramic
and hidropinturas hit.

After signing these agreements, the minister planned to move to Ciudad Guayana,
and meet with workers of Sidor and the aluminum industry, plans to start
industrial development and continue addressing the problems of industrial
companies.

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