Agreement reached in Venezuela dispute with Gold Reserve

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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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Agreement reached in Venezuela dispute with Gold Reserve

posted on Feb 24, 2016 08:06PM

CARACAS, Feb 24 (Reuters) - A solution was reached in Venezuela's arbitration dispute with Gold Reserve Inc., with the Canadian company providing a $2 billion loan and a $2 billion investment as part of a mining joint venture, according to President Nicolas Maduro.

Gold Reserve was awarded $750 million by the International Centre for Settlement of Investment Disputes (ICSID) for the 2009 termination of its Las Brisas gold concession by the OPEC nation.