Welcome to the Crystallex HUB on AGORACOM

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

Free
Message: Re: Minera Venrus calls for calm
1
Jun 02, 2010 09:09AM

i bet he called for calm...hugo does'nt like this type of thing..

Unemployment in municipalities of the south by mining crisis
Wednesday, 02 of June of 2010

Enterprise unions, unions, communities and workers of the municipalities the Pebble, Roscio and Sifontes today carry out a day of civic protest that tries to draw attention on the difficulties that confront the mining companies of the zone, as a result of the implementation of a resolution of the BCV that forces the sale of 70% of the production in return official.

Natalie Garci'a
Photo William Urdaneta

The commerce in the municipalities of the south will be closed in solidarity with the Russian miner
Inhabitants, communal and working Chambers of Commerce, unions, advice of the companies Rusoro Mining in the Roscio municipalities, Callao and Sifontes begin civic unemployment today to reject the application of the resolution of the Central bank of Venezuela that norm the regime of commercialization of gold and its alloys”, that entered use in June of the 2009 and could take to the bankruptcy to the miner.

The resolution of the emitting being establishes that the private companies must sell the 60 percent of their gold production to the BCV and a 10 percent to the internal market at the cost of the effective official exchange rate. The rest 30 percent can be sold like export, but the product in dollars must be passed equal through the type of official exchange rate.

This situation, according to informed the manager into finances of Mining Promoter Guayana, Carlos Sanchez, one of the companies of Rusoro Mining, before Agapov group, prevents them to fulfill with the operative expenses and the payment of the list, loaded of benefits for the workers.

Evident losses
Ever since the resolution entered use in the 2009 the company has indicated its displeasure. “In view of the measurement we left gold in inventory and we did not sell until one took place the devaluation and the entrance of the official exchange rate to 4.30 that we decided to remove gold and thus to reclaim part of the money that we had to ask in international credits to maintain the operations”.

Sanchez adds who the consumptions and spare parts that the company requires are bought to the change permutes because Cadivi does not facilitate the access to them to currencies to the official exchange rate and the suppliers ask for advance payments generally to them or the total payment of the solicitd thing.

For these reasons the unions and representatives of the company have announced that of having a change in the rules of the game for the commercialization of gold the company could not go to the bankruptcy in two months.

The closing of the transnational one will place in check 3 thousand direct jobs and 15 thousand indirect ones.

Consolidated unit
Civic unemployment of this Wednesday will count on the support only in the Pebble of 633 retailers affiliates, the three banking organizations, the Chinese supermarkets and population generally.

Simón Alexander, president of the Chamber of Commerce and Industriales of the Pebble, informed that the paralyzation activities will begin in the morning to the 5:30 with the meeting of all the sectors in the Obelisk, next to the terrestrial terminal of the town soon to walk by the streets in a manifestation.

“We already have all the necessary permissions and the support of the different sectors that will be affected”, added Alexander. Similar actions will have in Guasipati and Tumeremo, where also miner Rusoro Mining has strong presence.

Equality of conditions

The company Rusoro Mining explains that its intention is not to obtain special advantages through a modification of the resolution of the Central bank of Venezuela that establishes the “Norms on the Regime of Gold Commercialization and its Alloys”.

“What we want it is that they give to the access to the official dollars for the acquisition of which we needed and equals us conditions that the rest of the public companies that instead of the 70 percent can sell the 50 percent to the BCV”, pointed Carlos Sanchez, manager of finances of one of the companies of the Russian group.

Share
New Message
Please login to post a reply