Re: all gold mines in venezuela---- must be sold to chavez?
in response to
by
posted on
Sep 22, 2011 08:35AM
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
Is this what you are looking for? It's official since it is published in the gazette. i also read in another article referring to the same topic that mentioned gold reserve, brias, crystallex, but is no longer avaiable on the server that provied it. hope this is what you were looking for.
MARION LEON | EL UNIVERSAL
The Law on the State reserving the activities of exploration and exploitation of gold, provides that the Republic or public bodies with competence in the field "exercise a monopoly on the marketing" of the mineral.
He points to the decree law, published in the Official Gazette number 39,759, that "all gold is obtained as a consequence of mining activity in the country, will be compulsory sale and delivery to the Republic."
This legislation, which reserves to the state not only the exploration and exploitation of gold, but the storage, possession, benefit, transportation, distribution and marketing, occurs at a time when the price of the mineral record-breaking into world markets. Currently, the value of an ounce of gold exceeds $ 1,800.
The instrument provides a migration process of "mining concessions, authorizations for the performance of small-scale mining contracts of exploitation and exploration of gold" to a joint venture scheme, most of which correspond to the Venezuelan state shareholding.
"Those who have not been extinguished by agreement between the parties," he notes, "as of right shall terminate at the end of 90 days," counting from the publication of the Gazette and the State "take possession and control of assets of operations. "
The legislation calls on the natural or legal persons related to the subject to "cooperate in the peaceful and orderly delivery" of such goods. And points out that such grants and contracts extinct "pass the full property of the Republic, free of taxes and charges".
It also indicates that the quantities of gold extracted from any mine or "the State is entitled to a share of 13% royalty," but "may be lowered to a limit of 3% to joint ventures related to mining projects social interest, with the participation of indigenous communities, small miners and artisans grouped into cooperatives or social production companies ".
Also in Law declares gold as a strategic activity and is located at the National Bolivarian Armed Forces to "maintain the security and internal order in areas subject" a process of exploration and mining. And "unlawful combat committed against the environment and state interests," while to "confront the threats that threaten the sovereignty."