Re: Who holds Title to the LC concession?
posted on
Mar 04, 2009 08:16AM
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
Supplemental that you left out. To each his own.
1. TORONTO, ONTARIO -- (MARKET WIRE) -- 06/24/08 -- CRYSTALLEX INTERNATIONAL CORPORATION (TSX: KRY)(AMEX: KRY) wishes to advise that on June 18, 2008, Crystallex was invited to a meeting by representatives of the Ministry of the Environment ("MinAmb"), led by Vice Minister of Environmental Planning and Administration, Ing. Merly Garcia. At this meeting, Crystallex was informed that MinAmb was instructed by the Government to reconsider issuance of the Las Cristinas Environmental Permit to Affect Natural Resources (the "Permit") by discussing with Crystallex possible modifications of the Las Cristinas project, which could enable the Permit to be issued. The modifications suggested by the MinAmb representatives fall within three main categories: (i) further optimising the social projects in the area, (ii) mitigating the impact of open vein deposit mining in the currently affected areas of the Imataca, and (iii) improving the remediation plans at the end of the mine life as well as to remediate the existing environmental damage caused by the illegal miners who have worked in the area. The MinAmb representatives stressed the importance of expediting the submission of details relating to the suggested request for modifications in order to enable prompt resolution of the Permit.
In addition, Crystallex has received the official minutes of the meeting held at the Permanent Committee for the Economic Development of the National Assembly at the public hearing held on June 4, 2008 to discuss the delay of the Las Cristinas project. At the meeting, representatives of the Ministry of Mines ("MIBAM") confirmed support for Crystallex and its compliance with all procedural and administrative steps up to the denial of the permit by MinAmb. The resolution issued by the Committee states that the Las Cristinas project has been in development for a significant period of time with the support of different branches of the Government. The resolution further notes a lack of coordination between the various Government branches, which it suggests should be resolved in light of the macroeconomic policies and goals of Venezuela, as well as the social needs of the people and the pre-existing environmental damage.
It is too early for Crystallex to forecast how this issue will be resolved, but it is encouraged by the support from the Venezuelan Government and National Assembly. Crystallex welcomes the opportunity offered by MinAmb to help create additional solutions to the extensive environmental damage that already exists due to illegal mining in the Las Cristinas area, and to improve the project in order to respond to issues raised by MinAmb.
2. TORONTO, ONTARIO -- (MARKET WIRE) -- 08/14/08 -- CRYSTALLEX INTERNATIONAL CORPORATION (TSX: KRY)(AMEX: KRY) today updated shareholders and stakeholders regarding the ongoing dialogue and process between the Venezuelan Ministry of Environment and Natural Resources ("MinAmb") and Crystallex regarding Authorization to Affect Natural Resources (the "Permit") at the Las Cristinas Gold Project.
On June 24, 2008, Crystallex advised shareholders and stakeholders that it was invited to a meeting by representatives of MinAmb including the Vice-Minister. At the meeting, Crystallex was informed that MinAmb was instructed by the Government of Venezuela to reconsider issuance of the Las Cristinas Permit by discussing with Crystallex possible modifications to the Las Cristinas Project to diminish the environmental impacts of the project and thus enable the Permit to be issued. The modifications suggested by the MinAmb representative fall within three main categories:
- Further improvements to optimising the social projects in the area.
- Mitigating the impact of open-vein mining in the currently affected areas of the Imataca Forest Reserve.
- Improving the remediation plans at the end of the mine life as well as repairing existing environmental damage caused by illegal mining.
The Company prepared a report which addressed these three areas and the report has been submitted to MinAmb. In addition, as part of the ongoing process towards the issuance of the Permit on August 7th and 8th, 2008, a team from MinAmb led by the Vice-Minister completed a site visit of the Las Cristinas Project. As part of this visit, the team inspected the social projects including the medical clinic and sewage treatment facility which are both currently under construction.
Commenting on the process, Mr. Robert Fung, Crystallex Chairman and CEO stated, "While it's early to predict the results of the process, we are encouraged by the progress made and the completion of the site visit, and remain optimistic about a prompt and successful completion of the process."
3. TORONTO, ONTARIO -- (MARKET WIRE) -- 08/22/08 -- CRYSTALLEX INTERNATIONAL CORPORATION (TSX: KRY)(AMEX: KRY) wishes to advise its shareholders and stakeholders that it has received an official letter from the Venezuelan Ministry of the Environment and Natural Resources ("MinAmb") in response to the report on modifications to the Las Cristinas project ('report") submitted to MinAmb and referred to in the Crystallex press release of August 14th 2008. The communication from the Vice-Minister of MinAmb, notified Crystallex that MinAmb has reviewed the Report submitted by Crystallex and finds that the proposals in the report are viable and conform to the Environmental and Social guidelines of the Venezuelan Government. The Ministry further advises that these findings must be taken into account with respect to the decision the government is to take regarding the Environmental Permit ("Permit") for the Las Cristinas project.
Although the letter from MinAmb does not formally address the Appeal procedure initiated by Crystallex in May, 2008, Crystallex has been advised by Venezuelan Counsel that in practical terms this letter supersedes the effects and position of the April, 2008 letter from a Director General in MinAmb denying the request by the Corporacion Venezolana de Guayana ("CVG") for the issuance of the Permit for the Las Cristinas gold project.
Background
On April 30, 2008Crystallex reported that it was advised of a letter from a Director General in MinAmb denying the CVG request for the issue of the Las Cristinas Environmental Permit. On May 12, 2008, Crystallex submitted a formal rebuttal of the Permit denial letter to the Director General and on June 17, 2008, submitted an appeal directly to the Minister of MinAmb.
On June 24, 2008, Crystallex was invited to a meeting attended by representatives of MinAmb including the Vice-Minister. At the meeting, Crystallex was informed that the Vice-Minister and MinAmb had been instructed by the Government of Venezuela to reconsider the issuance of the Las Cristinas Permit. To that end, discussions with Crystallex for possible modifications to the Las Cristinas Project to diminish the environmental impacts of the project and thus enable the Permit to be issued began. The modifications suggested by the MinAmb representative fell within three main categories:
- Further improvements to optimising the social projects in the area.
- Mitigating the impact of open-vein mining in the currently affected areas of the Imataca Forest Reserve.
- Improving the remediation plans at the end of the mine life as well as repairing existing environmental damage caused by illegal mining.
The Company prepared a report which addressed these three areas and which was submitted to MinAmb earlier this month. In addition, as a part of the process towards the issuance of the Permit on August 7th and 8th, 2008, a team from MinAmb led by the Vice-Minister completed a site visit of the Las Cristinas Project. As part of this visit, the team inspected the social projects including the medical clinic and sewage treatment facility which are both currently under construction.
Commenting on the letter, Mr. Robert Fung, Crystallex Chairman and CEO stated, "We are very pleased to receive this formal correspondence moving the process toward our goals of the issuance of the Permit and the subsequent construction phase of the Las Cristinas Project."