Maria Ramirez Hair
Photo William Urdaneta

Hernandez indicated that all the companies would have to be in force by a same scheme of commercialization

Néstor Hernandez, vice-president of Operations of Venrus a.c., showed that a single resolution for all the mining companies would have to exist. “Support the request of relaxation of 50% and 50% for Rusoro Mining that is our first house”, said when considering that Venrus is of the same Agapov group, proprietor of Rusoro Mining.

Venrus a.c. is located in article 2 of the resolution of the Central bank of Venezuela that allows to destine 50% of the auriferous production to the export and rest 50% to the internal market, divided in 25% to the BCV and the other 25% to the transforming sector. “With that 50-50 there are advantages as much for the commercialization as for the subsistence of the company”.

The capacity of production of Venrus is of 6,500 ounces of gold per month approximately, and the plan is to maintain this goal throughout the 2010.

Hernandez indicated that she is understood that Rusoro Mining has problems from the financial point of view, considering who must sell “obligatorily” 60% of their gold production to the BCV and a 10% to the internal transforming sector, whereas 30% rest can be exported, but the dollars of the sale must be repatriated to the country and happen through the change control of 4.30 bolivars by dollar.

Rusoro Mining operates the mines Isidora and Choco 10. It owns one name of 1,200 direct employees and more than 12 thousand indirect ones in the municipalities of the south of Bolivar.