In BMI’s newly-released Venezuela Mining Report 2008, we predict that the nation’s mining industry will remain broadly unchanged in size over the next five years. We forecast that the value of output will grow in 2008 (thanks predominantly to higher commodity prices) to around US$2.6bn. Going forwards, though, the effects of higher production volumes – and especially of gold at Crystallex International Corporation’s Las Cristinas project – should be offset by softness in mineral prices. In world terms, Venezuela is a major player in the energy industry. However, it is relatively unimportant as a supplier of non-fuel minerals.

Key terms: value of output will grow in 2008

As I checked the date of this article, it was back dated as of June 28, 2008. So, I think this is an old article