(Adds Crystallex in fourth paragraph.)

By Jose Orozco
March 31 (Bloomberg) -- Venezuela’s central bank is
considering selling a bond backed by future gold production this
year, Mining Minister Rodolfo Sanz said.
The size of a possible sale is being studied, Sanz told
reporters today in Caracas before a meeting between Venezuelan
and Russian ministers and business executives.
Venezuela has turned to borrowing against future output of
oil and metals after its bond yields climbed. China Development
Bank Corp. loaned the country $8 billion, which will be paid
back with oil, and provided a $1 billion line of credit, payable
with iron ore.
The South American country is seeking partners to develop
the Las Cristinas gold deposit, one of the world’s biggest
undeveloped deposits, Sanz said. Toronto-based Crystallex
International Corp., which has a license to mine part of the
site, is still being considered as a potential partner, he said.
President Hugo Chavez said last year that a joint venture
between Rusoro Mining Corp. and the Venezuelan government would
develop the site.

For Related News and Information:
Top Latin America news: TOPL <GO>
Commodities futures curves: CCRV <GO>
Metals markets: METL <GO>

--With assistance by Steven Bodzin in Caracas. Editors: Jessica
Brice, Robin Saponar.

To contact the reporter on this story:
Jose Orozco in Caracas at +58-212-277-3714 or
jorozco8@bloomberg.net

To contact the editor responsible for this story:
Dale Crofts at +54-11-4321-7735 or dcrofts@bloomberg.net.