Last week, Environment Minister (MinAmb) Yubiri Ortega de Carrizales reportedly stated that the Venezuelan government "will consider underground mining." Reports also stated that Venezuela is "taking control" to save what is rightfully theirs...
Remember, Venezuela already owns Las Cristinas -- Crystallex International has a contract with the Venezuelan Guayana Corporation (CVG) -- and, most importantly, TWO prior decrees specifically allow for open-cast mining. I repeat: the CVG is the contractor, Crystallex is the operator and Venezuela 100% owns Las Cristinas.In my humble opinion, there is no doubt that Crystallex will get the final permit and thousands of Venezuelans will be put to work ... very soon!
Yesterday, the great news was reported that the Venezuelan government is "reconsidering issuing the permit" with "certain conditions" being met. These are: 1) Further optimizing social projects (one just has to read Crystallex' recent financial report to see that they are committed to continuing all social projects, some of which have already been started, while others are indeed completed). 2) Mitigating existing environmental damage (once again, Crystallex has a modern plan, advanced technology and expert knowledge to reduce further damage caused by illegal mining). 3) Improving the re-mediation of damage caused by the illegal miners who have worked the area (again Crystallex' plan calls for doing just this “re-mediation").
The fact that Crystallex may have to "tighten up" the wording in their agreements is nothing less then a huge step forward ... yesterday's news was positive and Crystallex "welcomes the opportunity" to prove to that they are a socially responsible company that stands behind it's words with deeds and actions.
It's been a long time coming, but I feel we are very very close to permit issuance. $21 million ozs. -- plus potentially a lot more -- equates to Crystallex becoming a billion dollar company practically overnight. Having spoken with Bob Fung, the Chairman of the Board on numerous occasions, I can confirm that Crystallex is anxious to continue their 16-year partnership with the government and the people of Venezuela.
The journey will begin soon ... and the future looks bright for a lot of people
Dan Russo
dtr1029@aol.com
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Venezuela is facing the most difficult period of its history with honest reporters crippled by sectarianism on top of rampant corruption within the administration and beyond, aided and abetted by criminal forces in the US and Spanish governments which cannot accept the sovereignty of the Venezuelan people to decide over their own future.
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