Crystallex International Corporation reported today that it has filed a rebuttal with the Minister of the Environment and Natural Resources of Venezuela ("MinAmb") under the administrative laws of the Bolivarian Republic of Venezuela.This appeal to the Minister is in response to the denial of the Company's first appeal to the Director General of Permitting in MinAmb.
As earlier reported, Crystallex filed an appeal on May 12, 2008 to the Director General in response to his communication denying the request for the permit to affect natural resources for the Las Cristinas project. The Director General denied the initial appeal and advised Crystallex of its rights under Venezuelan law to appeal directly to the Minister of MinAmb.
The Minister has, under statute, 90 business days in which to issue a decision on the appeal.
Crystallex also commented that it was invited to appear at a public hearing of the Economic Development Committee of the Venezuelan National Assembly. At the hearing, Crystallex gave a presentation addressing a wide range of matters, including plans for mining at Las Cristinas, the current state of the environment in the area of the project, the proposed plan for reclamation at the completion of mining, the social projects in the local communities and its employment and training plans for the local communities. Senior representatives of the Ministry of Basic Industries and Mining ("MIBAM") also appeared before the committee hearings and they supported the position presented by Crystallex. MinAmb representatives did not attend the hearing. The hearing adjourned, and representatives of MinAmb have now been summoned by the Committee to appear and testify.
Crystallex has been advised of its legal rights through the contractual agreement with Venezuela to develop and exploit Las Cristinas and is operating in a manner to maximize the protection of its shareholder and stakeholder rights and value.
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