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Message: Mining investment to ensure loan

Mining investment to ensure loan

posted on Jun 26, 2009 07:33AM

Mining investment to ensure loan
The president Hugo Chávez announced that the Government is close to getting a
loan that could be directed towards investments in the mining sector,
specifically gold, diamonds and gemstones.

According to a report by news agency Bloomberg, Chavez said that the loan comes
from "different institutions and countries," which discusses the possibility of
paying in part with mine production arising due to credit.

The president released the information during a summit meeting of the Bolivarian
Alternative for Latin America and the Caribbean (ALBA), but did not report the
amount to which the loan could amount to meet the mining sector.

The national executive has faced in recent months reduced their earnings
estimates for this year as a result of falling oil prices. The situation led to
a budget cut to fit income from $ 40 a barrel, instead of $ 60.

http://www.eluniversal.com/2009/06/26/eco_art_aseguraran-inversion_1448904.shtml

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