Crystallex plunged 46 per cent Wednesday after the miner said it had been denied a permit for exploration work at its key Las Cristinas project

Shares in Crystallex International Corp. (KRY) plunged 46 per cent Wednesday after the miner said it had been denied a permit for exploration work at its key Las Cristinas project in Venezuela. Crystallex embattled stock fell 84 cents to 77 cents on the TSX. The Toronto-based company said the Administrative Office of Permits at the Ministry of the Environment and Natural Resources of Venezuela was denying a request to carry out exploration activities in the mining area of Las Cristinas in Sifontes, Bolivar State. The denial cited 'sensitivities surrounding indigenous peoples, the small miners and the environment in the area generally known as the Imataca Forest Reserve.' The area 'contains a number of mining projects, which like those of Crystallex, are seeking the required permits to continue their development and exploitation.