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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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Sanz is STATING:"" UNDER THE FIGURE OF CONCESSION "" HAS BEEN CANCELED.
Wednesday, 05 November 2008
Venezuelan minister said the state will assume control of gold mine in 2009
Venezuelan Minister of Mining, Rodolfo Sanz, announced today that the State will control from 2009 gold mine "Las Cristinas," one of the most important in Latin America and the exploitation of which was granted in 2002 to the Canadian company Crystallex.
"This mine will be recovered and will be operated" from next year by "the state administration," he added.
It is "one of the largest gold deposits in Latin America and one of the largest in the world", which "has a capacity of about 31 million ounces of gold, valued at about 35,000 million dollars," The minister explained to the radio station La Voz de Guayana, according to the state news agency ABN.
Crystallex won the award in 2002 for the exploitation of Las Cristinas, located in the eastern state of Bolivar, and was awaiting the environmental permit to begin implementing their work.
However, earlier this year, the Ministry of Environment reported that this did not happen because of "sensitive matters in relation to indigenous peoples, small miners and the environment."
Sanz confirmed that from next year the mine will be operated and managed by the state company Minerven, which already has under its control two other gold deposits, "La Camorra" and "Revemin", also located in eastern Venezuela.
The first is obtained 6.3 kilograms of gold per day and 13.5 kilograms of "Revemin," according to ABN.
"Following the financial crisis, which has spread globally, it is necessary to try to recover our gold to increase our international reserves," said Sanz.
He assured that the government of President Hugo Chávez 'plans to boost the industrialization "of the whole sector," with firm resolve to eradicate artisanal mining. "
"Mining must be processed to generate jobs, bring technology into the country and chaining transformation processes," he said.
That process will include "a number of plants operating in diamonds," which is currently "are being operated by private companies," and the same will happen with other "strategic minerals, including bauxite and uranium.
The minister also said that the state "is under control and" the exploitation of gold, but gave no further details, and believes that increase production of that ore from the current 4.2 to 8.2 tons from 2009 .
The exploitation of gold mines had been granted to private capital "under the figure of concession", but that has been canceled, said Sanz.
The Chavez government has already nationalized, among other sectors, oil and steel, cement and telecommunications, and electricity, which has made share purchases and installations by an undisclosed amount of public funds
Venezuelan minister said the state will assume control of gold mine in 2009
Venezuelan Minister of Mining, Rodolfo Sanz, announced today that the State will control from 2009 gold mine "Las Cristinas," one of the most important in Latin America and the exploitation of which was granted in 2002 to the Canadian company Crystallex.
"This mine will be recovered and will be operated" from next year by "the state administration," he added.
It is "one of the largest gold deposits in Latin America and one of the largest in the world", which "has a capacity of about 31 million ounces of gold, valued at about 35,000 million dollars," The minister explained to the radio station La Voz de Guayana, according to the state news agency ABN.
Crystallex won the award in 2002 for the exploitation of Las Cristinas, located in the eastern state of Bolivar, and was awaiting the environmental permit to begin implementing their work.
However, earlier this year, the Ministry of Environment reported that this did not happen because of "sensitive matters in relation to indigenous peoples, small miners and the environment."
Sanz confirmed that from next year the mine will be operated and managed by the state company Minerven, which already has under its control two other gold deposits, "La Camorra" and "Revemin", also located in eastern Venezuela.
The first is obtained 6.3 kilograms of gold per day and 13.5 kilograms of "Revemin," according to ABN.
"Following the financial crisis, which has spread globally, it is necessary to try to recover our gold to increase our international reserves," said Sanz.
He assured that the government of President Hugo Chávez 'plans to boost the industrialization "of the whole sector," with firm resolve to eradicate artisanal mining. "
"Mining must be processed to generate jobs, bring technology into the country and chaining transformation processes," he said.
That process will include "a number of plants operating in diamonds," which is currently "are being operated by private companies," and the same will happen with other "strategic minerals, including bauxite and uranium.
The minister also said that the state "is under control and" the exploitation of gold, but gave no further details, and believes that increase production of that ore from the current 4.2 to 8.2 tons from 2009 .
The exploitation of gold mines had been granted to private capital "under the figure of concession", but that has been canceled, said Sanz.
The Chavez government has already nationalized, among other sectors, oil and steel, cement and telecommunications, and electricity, which has made share purchases and installations by an undisclosed amount of public funds
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