Venezuela shuts door on new gold mines

Mineral-laden Venezuela on Thursday shut the door to new gold projects and threatened other mining and logging concessions in a new step by leftist President Hugo Chavez to tighten control of natural resources.
Environment Minister Yuviri Ortega said the South American OPEC member will not give environmental permits for any open-pit mines and will not allow companies to look for gold in its Imataca Forest Reserve.
'Venezuela will deny environmental permits for the open-pit mine exploitation,' Ortega told Reuters in an interview. 'Neither private or public companies will for now explore Imataca's gold.'
Ortega said the government was also revising all its mining and timber concessions, but did not give further details.
Venezuela is one of the world's top oil exporters and with its coffers bulging from record crude prices may feel it does not need to risk further damaging its environment with more mining and logging.