Industrialization of gold combat global crisis
Written by Editor
Friday, November 27th, 2009
Luis Herrera, president of Minerva, which this year highlighted the state enterprises and joint venture Minerven Veneruso more input-sealed with a production of approximately six tonnes of the precious metal.
"As a state, we wanted to produce about eight pounds, but did not succeed because of that we have had many difficulties in aligning technology and in the union sector misunderstanding right, you got to sabotage the production of this year Minerven close at 4,600 kilos, "he said.

Caracas. "The President of Empresa Nacional del Oro (Minerva), Luis Herrera, said the gold industrialization driven by national government policy is accurate to the crisis of capitalism in the world, as indicating that recession is not known how long will be the falling dollar.

Herrera added that now more than ever, the Venezuelan state has to invest some of their resources in terms of industrialization and adequacy of all its plants and mines, so that when the gold price has a lower production remains profitable.

"With our socialist vision that we must ensure that mining and industrial development also affects the people who have been producing gold for centuries and its infrastructure is still terrible, so if there are investments for industrial development, there must be an identical compensation to communities, "said Herrera.

In that regard, he announced that by 2010 there is a very ambitious plan to build three new plants as well as to the adequacy of existing mines, where it expects to invest about one billion bolivars.

"We must use the year of the gold while capitalism does not overcome its crisis," he said.

The Minister of People's Power for Basic Industries and Mining, Rodolzo Sanz, said the country has gold reserves of over 500 million ounces, that is, the second largest gold reserves in the world.

The Central Bank of Venezuela (BCV) has gold reserves of 24.5 billion bolivars since January to September rose 24.3%.

Herrera noted that this year, state enterprises and joint venture Minerven Veneruso more input-sealed with a production of approximately six tonnes of the precious metal.

"As a state, we wanted to produce about eight pounds, but did not succeed because of that we have had many difficulties in aligning technology and in the union sector misunderstanding right, you got to sabotage the production of this year Minerven close at 4,600 kilos, "he said.

Nevertheless, he still expected to produce only Minerven exceed those numbers next year if all problems are solved, namely the union leaders.

Gold price nears $ 1,200

London. The desire for reservations "safe" from central banks, the falling dollar and lax monetary policies have combined to trigger the gold price approaching this Thursday at 1200 U.S. dollars an ounce, a record that would be just another step in its unstoppable upward march.

The jaguar came to $ 1195.13 towards the 0400 GMT at the London bullion market, the London Bullion Market, beating their record of the previous day when he passed successively the 1180 and $ 1190.

With this new increase, the value of gold gained 50% in one year and 14% in the month of November.

The main reason for this disparity of gold since early October when the price of an ounce smashed the $ 1070 threshold of going back to spring 2008, appears to stem from renewed interest from central banks. Agencies

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