VHeadline Venezuela News reports: Under what are described as extremely heavy security arrangements, Basic Industries & Mining (Mibam) Minister Rodolfo Sanz has paid a surprise visit to El Callao in southeastern Bolivar State to discuss labor and social benefits his department has negotiated under a joint venture deal with the Russian Agapov Group's Russoro Mining in a deal to take over two gold mines previously worked by USA-Idaho-based Hecla Mining.Sanz explained that after a number of conflicts with Hecla, Mibam had decided to abandon that company's further participation in developments and to make way for development of a joint venture with Rusoro. He added that Hecla remains reluctant to comply with statutory labor benefits to its employees, including a series of alleged violations of human rights, and that Hecla had negotiated with the Russians behind the back of CVG-Minerven, without consent, to sell its interest in the two mineral deposits.
Under the deal some 17 million bolivars (US$7.9 million) will be made available for payments to small-scale miners evicted from the Villa Balazo and Cuasia mines. Pushed to define the individual compensation amounts, Sanz said that his ministry had tentatively set Bs.F 10,000 ($4,660) for those who had already claimed compensation, and Bs.F 15,000 ($6,985) for those who had not yet reached any settlement. Rusoro will contribute $1 million to finalize details with Hecla's PMG while CVG-Minerven will recieve $5 million specifically for the development of adequate technology and social projects considered vital to the people of El Callao.
An additional 14,000 hectares will be returned to the Chile-Peru community close to Hecla's former Isidora mine for small-scale mining activities and resources will be deployed to refurbish main and secondary roads, drainage and street lighting.
VHeadline Venezuela News
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