http://m.eluniversal.com/economia/111010/venezuelan-govnt-fails-to-make-investments-in-gold-sector _______________________________________________________________________________________________ 10/10/11 (2:45 PM) | ECONOMY: Venezuelan govn't fails to make investments in gold sector. The Venezuelan government decreed the nationalization of the gold industry, but the move has resulted in no improvements. Underinvestment as well as the lack of inputs and spare parts are threatening the domestic gold industry, less than two months after Venezuelan President Hugo Chávez signed Decree number 8,413, which reserves to the State the exclusive rights for the extraction and mining of gold. Chávez's announcement was followed by the delivery of some inputs that were termed insufficient at that time. "Minerven is operating, but with serious limitations," the Venezuelan president said the day he signed the decree that nationalized gold. Restrictions are still present because only USD 20 million out of the USD 94 million loan that the mining company expected to receive from the Central Bank of Venezuela (BCV) have been granted so far to Minerven, said Carlos Rodríguez, the secretary general of the Union of professional workers at the Venezuelan Guayana's Corporation (CVG) Minerven.