VHeadline Venezuela News reports: With the participation of the President of the Bolivarian Republic of Venezuela, Hugo Chavez, Basic Industries & Mining (Mibam) Minister, Rodolfo Sanz is in the El Callao district of southern Bolivar State today for the inauguration of the La Camorra gold mine which was recently joint-ventured with the Russian Agapov Group's Russoro Mining in 50/50 relationship with the Venezuelan government.In a press release issued by the state-owned heavy industry conglomerate, the Venezuelan Guayana Corporation (CVG), Minister Sanz says that today is an illustration of how the Venezuelan government is asserting its sovereign rights over the development and marketing of strategic minerals ... "we are exercising sovereign control of our mineral resources."
The launch of La Camorra is the result of dedicated efforts by Mibam and the CVG's national mining affiliate CVG-Minerven to recover and return the extraction and use of gold and quartz to Venezuelans. "Our decision is to manage the production processes of core enterprises," Sanz added, assuring that the inauguration of the La Camorra gold mine is in line with his portfolio instructions to reorganize basic industries with the help of economic partners.
The Venezuelan government assumes 100% operational control of La Camorra through the CVG-Minerven holding company under Mibam as per an earlier meeting in Ciudad Bolivar (in April) at which Mibam had appointed the ministry's mining concessions director Rodolfo Vilchez to oversee compensation claims and payments to miners who had taken part in the government's mining retraining program, thus honoring President Chavez commitment to mining in Guayana.
Sanz says that in today's ceremony, his team will meet its commitment to some 969 miners in the Villa cooperative with individual payments of Bs.F 10,000 to each of those who received their awards in 2004 and Bs.F 15,000 for the rest in a total pay-out in the region of Bs.F 11,289,000.
VHeadline Venezuela News
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