Funny how the Chinese always get paid. We have to sue

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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Funny how the Chinese always get paid. We have to sue

posted on Apr 30, 2011 12:02PM

Venezuela takes back Chinese-financed gold mine

27.02.2009

According to Associated Press, Venezuela is assuming control of a gold mine operated for six years by a Chinese-financed company.

Mining Minister Rodolfo Sanz says Jin Yan de Venezuela CA has decided to halt operations. Its principal shareholder is China's Shandong Gold Mining Co.

Sanz said Thursday that Jin Yan has voluntarily decided to give up its concession for the Sosa Mendez gold mine in Venezuela's southwestern Bolivar state.

Company president Ge Yuhuan told the regional daily newspaper Correo del Caroni last month that the company hoped to turn over the mine in a "friendly manner."

The daily reported Venezuela's government would pay Jin Yan $31 million for its investments in the mine.

Yekaterina Davydova, Rough&Polished Asian Bureau Editor in Beijing

Rough&Polished

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