After more than 20 years in the zone, Gold Reserve will have to leave the Project Breezes of the Cuyuní. Minerven is to the control while the situation is defined.

Natalie Garci'a
Photo William Urdaneta

The camping was taken and assumed by Minerven like part from the mining reordering that is developed in Bolivar

Gold Reserve, through an official notice sent directly from Canada, assures that “the unjust acts and of expropriation on the part of the Government of Venezuela include unwarranted retardations by the Ministry of the Atmosphere (MinAmb) to complete the process of authorization for the Project Breezes”, which prevented that they operated the deposit in spite of having 20 in him.

Douglas Belanger, president of the transnational one, expressed that “Gold Reserve has been an investor dedicated and conscious in Venezuela. In view of the actions of the government, the company consistently has looked for to meet and hoped to reach a friendly solution after this dispute, but the actions of the Government have given like result significant losses for the company and its shareholders”.

Thousands of million
In view of this situation, auriferous the Canadian is interposing a resource of international arbitration so that the Venezuelan State refunds the inverted thing to him it compensates and them. The company declares that it has spent about 300 million dollars in exploration and development of the project Breezes and the concession Hit 5, located in the Sifontes municipality and the Pebble, respectively.

By all the happened one with the present government, Gold Reserve is demanding the 5 billion of dollars, taking into account gains that could have had with the operation and the losses reason why they call a “illegal conduct of the government”.

However, the Breeze concession of the Cuyuní was 20 years old and expired in the 2008. Although the Mibam had to act was slowed down at the time in some proceedings and it was not until two months ago when it informed that it was going to take action, until this Monday made specific the victory of the contract.

Damaged camping
Although the company is in favor annoying of the losses, is possible to emphasize that the camping of Gold Reserve is aggravated. The facilities of the transnational one are of ceiling of zinc and wood.

The baths of the ladies and the horsemen are in a same space in the administration area and generally the camping requires of numerous repairs, and an agreed preparation for the development of a so ambitious project.

The president of Minerven, Luis Herrera, explained the representatives of the company that the concession had won and that had to give. After this notification he hoped myself that this Tuesday was a meeting between minister Rodolfo Sanz and the transnational one, in order to take the relations of the possible friendliest form.

High civil servants of the Mibam are preparing a visit of president Hugo Chavez to the south of the state Bolivar. He presumes himself that its presence will be taken advantage of to define the destiny of the Cristinas, auriferous project of great importance in Latin America that has proven and probable reserves of 31 million ounces of gold.