This is where the CVG's recent money came from. The article also mentions what is expected from Rusoro in social projects. Our site visit came not to long after this and I would imagine as a result of them just checking to make sure our social obligations were up to their requirements. By the way their social requirements almost look exactly what KRY was required to do. The article is from Mibam's site on 7/15.

The inhabitants of El Callao will benefit

Conformer joint venture
between Venezuela and Russia

(Press Mibam .- 15/07/2008) The Ministry of People's Power for Basic Industries and Mining (Mibam), through the National Mining Company Basic, formed a joint venture with Rusoro, a group company of Russian Agapov. This action is part of the policy of exploiting natural resources in yacente Venezuelan subsoil, with a view to improving the living and working conditions of the mining towns.



The purpose of this joint venture, which will have a distribution of stock Venezuela 50%, 50% Rusoro, and that will be located in El Callao, Bolivar state, will be the exploration, exploitation, processing and marketing of gold mining.

The owner of Mibam, Rodolfo Sanz said that the recent agreement provides for the transfer of areas contained in mineral rights and contracts, which companies Hecla Venezuela and Callao Gold Mining Company are in the state of Bolivar.

"The company Rusoro Mining Agapov group pledged to carry out a series of social work in communities Peru-Chile, manufacture, Iguana, Monkey Town, New Mexico, which include the rehabilitation of main and secondary roads, including drainage and street lighting, "he said Sanz.



Works for the welfare of the people

Among the various actions and commitments is the construction of an aqueduct of drinking water, the placement of a water treatment plant, as well as the lifting of an outpatient capacity of 10 beds for hospitalization and a school canteen and Internet.

With the establishment of the company will make an estimated timeline of job placement for 250 new workers. Reviewing the work situation that mining companies Hecla and Callao Gold Mining have active workers.

Five million dollars for CVG Minerva

For the assignment or transfer of mineral rights of Hecla companies of Venezuela and El Callao Gold Mining Company, the company Rusoro Mining must deliver $ 5 million to the company CVG Minerva CA, supervised by the Corporación Venezolana de Guayana.

The dignity of the inhabitants of El Callao, specifically in the area of Villa shot, is another of the actions to be carried out by the company Rusoro due to evictions of miners in some areas.

Rodolfo Sanz, also noted that since the Corporación Venezolana de Guayana adopted a considerable sum of money to be invested in community projects.