WHAT ABOUT THE GOLD??????

Agreements with China's industrial capacity increase will allow Venezuela

Caracas, Jan. 24 .- AVN technological cooperation agreements with China to Venezuela will increase the industrial capacity of the South American nation, said Minister of People's Power for Basic Industries and Mining, José Khan.

"In China we have an important strategic alliance that will result in increased production of both iron and steel and aluminum," Khan said in dialogue with China's Xinhua news agency.

According to the minister, from the creation of the China-Venezuela Heavy, whose sum amounts to 20 billion dollars, commissions of the two countries have nine games to design projects that promote the development of production in Venezuela.

Khan explained that the plans cover many key areas as transportation, agriculture, food production, telecommunications and especially industry (basic, medium and light).

"In our case, basic industries and mining, have been discussing and already approved a series of projects that will allow in 2011 the basic industries begin to recover their production and increase their productivity," he said.

Then, the official said that advance a series of projects focused on the production of iron, steel and aluminum, an activity that is concentrated in the Corporación Venezolana de Guayana (CVG) and Siderurgica del Orinoco (Sidor).

This, he said, is expected to expand the ports of the population and business Palúa CVG Ferrominera, located in Ciudad Guayana, Bolívar State, and the execution of dredging the river Orinoco, all with the aim of facilitating the transport of mining production.

Among the plans also mentioned the purchase of machinery with advanced technology to facilitate the extraction of iron and the technological upgrading of some of the processes for processing.

In the case of aluminum, said the technological adaptation of plants and nesting of mineral production as well as the construction of a new extrusion plant.

These projects will improve "not only the conditions of workers (Sidor and CVG), but the conditions of the people because they are used these materials, primarily for national housing plan."

Recently, the Venezuelan government has advanced a special plan to promote the construction of houses in the country.

Housing deficiency increased in late 2010 by an intense rainy season that left over 130,000 homeless, according to official figures.

Mining activity is one of the most important for the Venezuelan economy, after oil, the abundant raw material available to the country, concentrated mainly in the southern region of Guayana, one of the oldest geological formations on the planet.

Sidor is the leading steel from Venezuela and one of the largest in the world.

The CVG is a complex comprised of 15 companies engaged in the exploitation of forest resources, in addition to iron, bauxite, gold, diamond and coal, and other valuable minerals.

24/01/2011 20:08