Off Dow Jones at 10:16 A.M.
posted on
May 27, 2008 06:25AM
CARACAS (Dow Jones)--The Environmental Ministry is upholding its decision toblock mining permits in the Imataca Forest Reserve, confirming the announcementmade two weeks ago by Environmental Minister Yubiri Ortega, El Nacional dailyreported Tuesday. The decision affects Crystallex International Corp. (KRY) and Gold Reserves(GRA), which were attempting to dig the country's largest gold and copper minesin that region. El Nacional, which cited anonymous sources from the Environmental Ministry,also said that the Basic Industries Ministry and the Environmental Ministryestablished a joint commission to agree on the locations where the governmentwill allow for open-pit mining projects in the Bolivar state. Ortega had said two weeks earlier that the "government would not give permitsto anyone for open-pit mining in gold, diamonds and coal." Permitting mining in the Imataca region, however, will not be taken intoconsideration by the committee, El Nacional reported. -By Darcy Crowe, Dow Jones Newswires; (58) 212 905 6304;darcy.crowe@dowjones.com (END) Dow Jones Newswires 05-27-08 1016ET Copyright (c) 2008 Dow Jones & Company, Inc. 10:16 052708
