gold mining in venezuela---- the economics

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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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no_bear

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gold mining in venezuela---- the economics

in response to

Re: all gold mines in venezuela---- must be sold to chavez?

auntierooski

posted on Sep 22, 2011 10:11AM

So to mine gold in Venezuela now you have to take a 45% share in the JV, probably put up all the capital, and then pay a royalty as high as 13% so that you can sell all the gold to Hugo and get killed on the exchange rates.

Lucky thing is you won't have to pay income taxes, since you will definitely run at a loss. Not even China would touch that kind of deal.

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