November 26, 2010, 2:06 a.m. |

state mining company, despite its drawbacks in 2010, has projected that it is feasible. 2

tons at the end of 2010 4

tonnes in 2008 and 2009 12

tonnes by 2014 Erika López Hidalgo

ehidalgo@cadena-capriles.com

In this year of historical prices of gold, Minerven, the Venezuelan state mining, production contracted by 50%. Its president, Luis Herrera, told El Mundo, Economics and Business that the situation corresponds to the obsolescence of plant and equipment to produce gold ore.

This mine, which has maintained an average production of 4 tons of gold, will close this year with 2 tons in the best case, as noted its president. Acknowledges that it has invested little, but that this must be added other factors as "the sabotage of the facilities" and heavy work pressures.

The situation of high gold prices, due to the downturn or slow economic recovery, which became the refuge of gold ore investors, could have been better utilized. But the official says many of the problems that have been filed is not casual. He is convinced that large transnational gold mining are interested in showing that they are competent, so that access to spare parts and technology has been hampered. "A mango tree that everyone wants to throw stones," said the official.

Technology: hopscotch

"The great weakness or one leg we've had this year was in the first instance the technological adaptation of plants. We have had problems with parts, and access to the dollars brought extends the spares, it has affected production by 50%, "says Herrera.

Despite being a state enterprise and gain greater access to dollars, the official says there have been complications. "We even have a preference in dollars, but it is important to say that Minerven is a self-financing, our budget is produced at the mine, so when it affects productivity income affect us."

Herrera says that investment in plant has not exceeded 5 million Bolivars, since every effort is complicated.

The balance of 11 days

One program to retrieve the state mining production is a 100-day plan, which involves the injection of 300 million Bolivars to level the productivity of three plants and take them to an optimal level of performance. "Since we began this month," he said.

While compliance with this plan, which will leverage the production expectations for 2011-projected to reach between 6 and 8 tons in 2011 - is estimated to begin an investment plan to three years for $ 300 million to increase production capacity of plants and mine, with the idea of reaching a production of 12 tons.

To reach the projected goal the establishment of joint ventures. Herrera mind that many companies worldwide and local levels have shown interest. The proposed South African society, while there are local companies that undertake the projects and raise Minerven cancel for work performed, and other resources to lend foreign Minerven. "We will sit down with the Mibam to define which of these options is most suitable for the state."

Herrera's statement that "this is the moment for investing, there is another, including mine Las Cristinas and Brisas." Believes it is time to define the future of these sites, so urgent, since the prices of gold promise further growth.

"With the tongue out"

Another element Minerven president adds to the problems that have affected production are the unions.

"The unions have been with us criminals, even though the mining has provided greater benefits to workers, and recognized the liabilities that were due in previous years. We are paying a bonus of 35,000 Bolivars per worker, but we missed a day, and we want to stop the plant. This week we hope to remove the utilities, with its tongue hanging out, but we will, "said Herrera.

Versus sustained flats

Herrera relates that the "thing" has not been easy, but shows off some wins. The company between 2008 and 2010 increased its gold reserves after gaining control of a number of mines adjacent to their original land.

Although they have not yet quantified, the new inventories indicate that Minerven has proven reserves of 4 million to 5 million ounces of mineral resources but "we say we have more gold than Cristinas. It is the largest reservoir country and Latin America. "

Then not be negligible, since the proven reserves of Las Cristinas exceed 31 million ounces, considered one of the most important reservoir in the region.

The official says French technicians qualify giant deposits, while South Africans say it is a single structure and may develop a large-scale mining.