Venezuela okays talks on Crystallex project

Crystallex International Corp.'s stock surged more than 70 per cent yesterday after Venezuela's Ministry of the Environment said it was willing to discuss ways for the miner to obtain approval of its Las Cristinas gold project. Crystallex said it had discussed ways to lessen the impact of mining in the area and improve the site once the life of the mine ends.
President Hugo Chavez's administration had told the Ministry of the Environment to start talks over how a permit could be issued, the company said. Las Cristinas had been left in disarray by the ministry's decision last month to refuse a permit for open-pit mining. Analysts said it appears the only official opposition to the project comes from the Ministry of the Environment. That ministry is now stressing the importance of submitting modifications to the mining plan in a speedy manner.