New areas for gold production

During the meeting with journalists, the minister of Petroleum and Mining announced the state's decision to assign the Venezuelan Corporation of Mining entity attached to PDVSA Industrial, rights and development of primary activities related to farm gold in blocks Guasipati - El Callao, South Sifontes and El Callao, Bolivar State.

These blocks represent an area of ​​35,778 hectares and estimated reserves of 81.4 million ounces of gold.

"This measure will outline the areas to promote the exploitation of gold and prevent smuggling, and give order to a sector that was in private hands who traded on the stock, making great fortunes, untapped resources," said Ramirez .

He said that although the mineral reserve estimates are placed at 133 million ounces, the Executive undertaken hand in hand with the Republic of China, a certification process that apart from gold, will determine on Venezuelan soil deposits of coltan, diamond and silver.

In August 2011, was approved via habillitante the Organic Law Reserving at Golden State activities, in order to stop the anarchy that facilitated the extraction of this strategic resource, and bad practices that might promote environmental destruction in areas of mining gold and other minerals.