According to the Official Gazette, the Ministry of Basic Industries and Mining reversed six of the concessions extracted nickel deposit Loma Nickel, a subsidiary of the British company Anglo American, due to alleged contract violations.

 In a span of 90 days, according to the notice, Loma Nickel must surrender inspector appointed by the ministry of land, infrastructure and equipment located on the site of 248 hectares. The company still controls 10 other concessions nickel.

Ministry officials were not available for comment on the case and spokesmen for the company said it is still in the midst of the process of studying the content of the decision.  The Venezuelan authorities allege that Anglo American did not comply with a number of contractual conditions.