...Ministry for the Environment refused Placer Dome the permit to start mining Las Cristinas, despite the fact that it had obtained international financing, complied with all the legal and permitting requirements exacted by the Venezuelan State, and even implemented an extensive social program to benefit one of the country’s most depressed populations. Many think that it was because it did not “cough up.”

Finding it impossible to go ahead with exploiting the mine, Placer Dome sold its share in the Canadian company Vanessa Ventures, which then drew up a smaller scale mining project. But the Venezuelan state then rescinded the mining contract arguing procedural technicalities rather than issues of substance. Today, Vanessa Ventures is questioning the legality of this rescission of its contract in international arbitration .

And we were blindsided!?

Hello?