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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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Message: They guarantee labor stability to workers of mining companies

Re: They guarantee labor stability to workers of mining companies

posted on May 16, 2009 06:06AM

The resolution of the Central bank of Venezuela (BCV) on the regime of gold commercialization and its alloys has generated controversial, because the new norms establish that of 70% of the national auriferous production destined to the internal market, 60% must be sold “obligatorily” the emitting being, whereas only a 10% are placed in the national transforming sector.

Why don't they do this with oil as well? Mandatory 70% sold to the government (i.e. the middleman) at the reduced exchange rate and then resold at the higher dollar rate? Oooops....I forgot. With much of oil nationalized already they would only be screwing themselves. There may be some entertainment value in that.

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