Mandatory sale of gold to the crisis unleashed in Rusoro BCV
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Published at 12:15 PM from 03rd December 2009 | World
Accused of monopolizing the gold mines in Venezuela, helped by the new geopolitics government Rusoro stars a setback in its mining developments.
The accounts do not add up and bleeding red figures make a dent in their finances.
The origin of the crisis in the Russian mining adjective is the decision resulting from the Central Bank of Venezuela (BCV), which sets out in obligee to them sold 60% of gold production for the domestic market. As recounted a company source told this newspaper.
The prior setting of the trading price of gold ore calculated to official dollar (Rs 2.15) is another factor, measured with the previous measure, generated an explosive cocktail of negative numbers.
The declarant of Rusoro confirmed as told by the miners.
"We had to collective vacations and mining employees until further notice". The measure helps to mitigate for the month of December costs and expenses.
The theme does not look easy. The managers evaluated the fate of mining operations by 2010, and discussed how best to proceed.
Lower feverfew is not dismissed outright. But it is often the best option. They study the possibility of starting operations in January, but with much less personal. They must then search in a universe of 1,200 people to the elect. "I think of all we must all operations
The situation forced them to take collective vacations to employees and miners international price closed at $ 1.216 an ounce and sold in Venezuela under $ 900
rar somehow, "the reporter to the company.
While gold gold accounts record high in international markets, in Venezuela the precious metal is sold at prices that do not offset the production costs of companies.
By yesterday, the stock closed at $ 1216 abroad in an ounce, but the Russians claim to be selling at $ 793 U.S. dollars an ounce to the BCV, about $ 423 less, which "make a difference."
The picture is complicated them to the Russians. Production costs are not offset, so the crisis exploded in their hands and forced them to take action. Produce one ounce in my
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