gw, another interesting tidbit from herrera...

The increase in the production will take control of an investment of US$ 300 million a credit that approved the Bank of Venezuela
More than 8 tons annual of gold it considers to produce Minerven from 2011

Source: AVN
26/11/10

City Bolivar. - The state company General Company of Mining of Venezuela (Minerven) handles to a project for the integral engine power upgrade of its equipment and expansion of operations, that would allow him to return in 2011 at a production level superior to the 8 thousand annual kilograms of gold.
Thus his president informed, Luis Herrera, who indicated that this plan will be financed with resources contributed by the Bank of Venezuela.
Herrera indicated that the plan will be executed in 100 days and aims in first term to make level the production of its different plants, affected by the lack of spare parts.
“These problems have reduced in 50% our capacity of production, leaving it in 4500 kilograms annual, but with the investments we hoped to return at the level that we hardly had two or three years ago”.
It indicated that the loan asked for to the Bank of Venezuela reaches the 300 million dollars and will allow to acquire and to install the spare parts that require the equipment of extraction, milling and transport of mineral, as well as for the acquisition of new equipment of high tech.
“Not only it is hoped to again reach an average of production of 8 tons annual through this plan, but to surpass that level and to recover the first place between the auriferous companies of the country”.
It explained that also one counts on supplies and proposals of companies of China, Venezuela and of the African continent, interested in financing and participating in this project of adjustment.

Rescue of mines

Hardly two years ago, CVG Minerven handled the mines Colombia, Méndez Soda, Revemin and the Camorra, these three last patients by private companies.
“Ours first actions within the frame of the mining sovereignty were to rescue the Revemin plant, that had with Cristallex an payable contract of two years”, it emphasized Luis Herrera. Soon the plant was rescued the Camorra, at the moment under operation of a mixed company Venezuelan-Russian and the mine Méndez Soda.
“Also 3 thousand hectares of auriferous grounds were recovered, and so the state company happened to handle 41 thousand hectares for year 2009”, it indicated. AVN