http://www.reuters.com/article/marke...

Fortunately for us, SGR is in a substainlly lower risk environment.

UPDATE 1-Venezuela says to control Crystallex gold mine

(Adds ministry comment, background)

CARACAS, Nov 5 (Reuters) - Venezuela will take over Canadian miner Crystallex's (KRY.TO: Quote, Profile, Research, Stock Buzz) Las Cristinas gold project, one of Latin America's largest, the latest move by President Hugo Chavez to bring key industries into the hands of the state.

Venezuela's mining ministry said the government aimed to start up the mine next year.

"This mine will be recovered and will be operated under state administration," the ministry said in a statement.

Crystallex, which operates the project under a contract, has waited for years for permission to begin mining the Las Cristinas deposit, located in a huge forest reserve in southeastern Venezuela.

Socialist Chavez has nationalized large swaths of Venezuela's economy, including energy, telecoms and steel companies. (Reporting by Frank Jack Daniel; Editing by Christian Wiessner)