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Message: BCV must reconsider conditions of sale of gold

BCV must reconsider conditions of sale of gold

posted on Dec 03, 2009 07:01AM
BCV must reconsider conditions of sale of gold
Thursday, 03 of December of 2009
  • Isidro Casanova

To consider that the conditions that the Central bank of Venezuela - BCV- has imposed for the commercialization of gold, puts the industry to produce under loss, leaving in danger the jobs in the producers of the appraised metal, workers of the auriferous companies of the South traveled to Caracas to meet itself with the representation of the Central bank of Venezuela, where they will demand to reconsider the decision that forces to sell 70% to him of the production.

A source said that the producing gold companies of Guayana could be selling part of their production to the BCV and reserving the rest, hopeful in later agreements that allow them to work to gain and not to loss, as it happens to them with the determined norm.

Pablo Zambrano, representative of the directory of the Mining Unit of the South, expressed that the workers of the deprived companies of gold, are itself affected because to sell gold to him to the Central bank of Venezuela, they at the rate of pay where it Versus. 2,15 bolivars by dollar, its production is placed to loss because the consumptions and to the other do them acquisitions in the inflationary market.

Our informant expressed that the Central bank of Venezuela has published two resolutions. One establishes that the producing company must sell a 70% of its production to the BCV; 20% to national jewellery and 10% can sell it in the free trade, whenever it authorizes it to the BCV.

- If the company sells 70% to him of the gold that produces to the BCV, under the present conditions of change, loses. To sell gold to him to the BCV in the conditions that fixes, they give to losses, being this the reason for which CVG Minerven, does not sell their production to him, preferring to place it in the free trade - Zambrano- maintains, because like the other companies, can lose.

Zambrano mentions Resolution 090603 of the BCV, published the 16 of June of the 2009. This Resolution modifies first. It establishes then that 50% of the production can go to the internal market; 25% for BCV and 25% for the national jewellery, but this Resolution is only valid for the mixed companies and in the case of the municipalities of the South, a mixed only exists company that is Venrusca, which forms associative capital between the national Government and contributes Russian.

The nonmixed company is the harmed one

It refers Pablo Zambrano more ahead than the great one harmed with the Resolution is the private or nonmixed companies. It mentions Resolution 090403, of the 24 of April of the 2009, by means of which, it determines a quota of 70% of the gold that can go internal market, discriminated of the following way: 60% to the BCV; 10% to transforming sector and 30%, can be exported under authorization of the BCV. As it is observed, one is a disadvantage and in these circumstances, it cannot work the private industry.

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