I ask him why would they (VZ) turn the mining over to russco( a Canadian co.)?

He has no idea at all.

If its true, I do have an idea. Chavez is scared to death that the U.S. is going to come in and blow him away. Watching Russia successfully stand up to the U.S. in Georgia convinced Chavez to integrate Russia into his economy as a buffer.

As a price for that protection, Russia stronged armed Chavez into giving them LC.