Russia's Rusoro Finds Gold In Warm Ties With Venezuelan Govt

Mining in President Hugo Chavez's Venezuela is a risky business, but Rusoro Mining Ltd. (RML.V) is confident cozy relations with the government will help it quadruple output and increase production to 1 million ounces of gold in five years. Investment in the country's mining industry has all but dried up as labor problems and threats of nationalizations have scared international investors away, despite booming commodity prices. Yet Russian-owned Rusoro has been gobbling up mines while cultivating a close relationship with the Chavez administration.