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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

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jimmijazz

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deal signed china

posted on Feb 29, 2012 10:34PM

http://venezuelanalysis.com/news/6838

China Agrees on US$ 40 Billion in Project Financing in Exchange for Venezuelan Oil

After a meeting on Monday afternoon, China’s various banks and state owned companies agreed on a total of US$ 40 billion in financing for a range of petroleum, mineral, housing, and other “strategic” projects in Venezuela.

Venezuelan authorities including the vice-president and the minister for petroleum and mining met with the president of state owned Chinese financial company CITIC Group and the vice-president of its Development Bank to sign the bilateral agreements.

One of the key agreements reached with CITIC was its financing of the “Cristinas” project in Venezuela, involving bauxite mining, for a sum of US$ 10 billion.

The older stories talked about CITIC taking a 20% stake. If that is true then Cristinas is valued at 50 billion. Makes our claim for 3.8 billion look pretty fair. I would be happy if we were Given 1 billion to go away and for any data and VZ still has 9 billion.

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