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VHeadline Venezuela News reports: Local newspaper El Correo del Caroni reports in its Wednesday editions (July 9) that auditors from Venezuela's Basic Industries & Mining (Mibam) Ministry have visited the predominantly gold-mining town of El Callao (Bolivar State) to meet with regional technical inspectors, mine operators and regional coordinators in a review of progress made during the first six months of this year and to analyze a series of mining projects currently on hold pending decisions from central government in Caracas.

Various actors in the gold mining industry were afforded an opportunity to exchange views and jointly review problems facing the industry and to review current labor plans for the rest of this year as well as the implementation of taxes and regulatory controls on sales of gold and precious stones as well as the activities of transnational mining companies and related industries.

Mibam officials (still subject to a gag order imposed by Minister Sanz) did however say that the general purpose of the review is to address the issue of a realignment of Venezuela's mining policies to limit the indiscriminate exploitation of the country's vast reserves of gold and precious stones and to implement mechanisms to stimulate new projects committed to the sustainability of mining operations.

VHeadline Venezuela News
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