They can't even dig up their own gold and minerals let alone the other's .

Venezuela will sign agreements with various African miners
Articles - Economics
Written by Porlamar-ABN
Sunday 27 September 2009

A series of agreements on mining the Venezuelan government signed with African countries like Mali, Mauritania and Sierra Leone during the Second Summit ASA develops in Margarita Island, Nueva Esparta state.

This was announced on Saturday the Minister of People's Power for Basic Industries and Mining, Rodolfo Sanz, from the Hilton Holtel of that island.

Letters of intent are to the possibility of creating joint ventures for the exploitation of gold and steel production in South Africa, Mali and Mauritania

Also based on the possibility of setting up a small steel plant in Mali, a country which exports iron ore but has no steel mill for the production of rebars and profiles for construction.

"For that reason Mali pure iron exports to Europe and later imported products," stressed the head of the mining portfolio.

He also noted that in the letter of intent should be put in working groups to mount the steel together.

While, with South Africa, Sierra Leone and Mali will be discussed agreements related to the subject of diamond, gold and other minerals.

In Mauritania, the Venezuelan government will sign agreements related to the production of phosphate fertilizers, as this country has phosphate and gypsum mines that are not using. To do this, geological prospecting are going to do together geoscience institutes of both countries will allow the exploration and exploitation of these mines.

In that sense, Sanz said that Venezuela needs to combine with gypsum cement, so that it can be used in the construction industry.

"These letters of intent that we are very positive sign and highly valuable, because they are helping with Africa in the industrial processing of raw materials and to create business for these countries to improve their quality of life," he said Sanz.

Agreements of this type are those that begin to emerge from Africa and South America meeting, where the foreign ministers of each country are working on the plan of action presented in the afternoon on Saturday to the Heads of State of each continent.