Gold Reserve is crossing a legal process with the Venezuelan Be in favor of the taking of the project Breezes of the Cuyuní. Photo William Urdaneta

It is possible to remember that Gold Reserve recently lost the rights that planned Breezes of the Cuyuní, located in the Claritas, Sifontes municipality, because the plan expired after more than 20 years of concession.

Rusoro Mining is auriferous the private company with more job to the south of the state and has under its trusteeship PMG and 50 percent of the mines the Camorra and Isidora, that are part of a mixed company with the Venezuelan State, call Venrus a.c.

Such association between these transnational ones could generate an important development in the zone, if both manage to obtain the permissions to operate certain projects of which they are concessionary.

Legal optics
However, one consulted the legal adviser of CVG Minerven, Emir Rojas, about the letter that indicates the pretension of these businesses, and this one commented that legally it is a transaction between two private companies that any disadvantage would not have.

The problem that yes could have is that it enters the proposals is including a concession that CVG Minerven subleased to Gold Reserve, called Hit 5, which stops to be incorporated in that negotiation must have previous state consultation with auriferous and the Ministry of Basic Industries and the Mining, otherwise the companies could be put under an administrative process.

It explains Red that often this type of associations render for “speculations” and sometimes “frauds” arrive until, because once consolidated the companies they offer his actions indicating that they have a series of mining properties in the country, which is a “truth by halves”, because they not always administer although them operate them or sometimes they sublease to companies of the State, which does not give the same value them.

“Usually he is advertising than another thing”, adds Generally Red, that alerts before this type of cases so that the people inquire well before investing in action of the mining companies, whatever, because although they can be perfect opportunities of businesses and jobs for the towns of the south, everything must be in force legal within the framework effective so that soon the companies are not object of investigations and sanctions. (NG)