Thursday, November 13, 2008

Crystallex International still at the starting gate, waiting for clarifications from the Basic Industries & Mining (Mibam) Ministry!

VHeadline Venezuela News reports: There's no change to a previously programmed meeting of Crystallex International shareholders to take place at 9:00 am next Tuesday, November 18 despite what is viewed as the views of "many misinformed people" or "someone working an agenda" to undermine the credibility and record of the Toronto-based gold mining corporation.

For the record: Crystallex International has operated in Venezuela since the early 1990s and been recognized by the Venezuelan government with 'Outstanding Citizen' awards for its social programs and contributions in compliance with all social programs outlined in contracts and agreements with the government and its agencies. It also has a record of doing more, and contributing more, to the surrounding communities than has been suggested or required by those agencies ... among other things it has donated a school bus, school supplies, a new roof to the local school, upgraded a local medical facility, built a new 10,000 sq/ft medical facility, built a sewerage network for the communities, built a sewerage treatment plant, water treatment stations, low-cost housing for local communities and more.

In dialogue and proposals submitted to the Ministry of the Environment (MinAmb) earlier this year, the Canadian company also agreed to take on even more responsibilities for local communities and these efforts were recognized and accepted by that MinAmb to improve the current environmental conditions at Las Cristinas left after decades of untamed artisanal mining and to create sustainable development for the area long after the project has been completed.

Crystallex executives insist that they have always recognized and respected Venezuelan Sovereignty and have abided by all terms and agreements outlined under Venezuelan law and in properly signed agreements/contracts.

De facto, though, Crystallex is still awaiting clarifications from the Venezuelan government, specifically from the Basic Industries & Mining Ministry (Mibam) as to what it intends following last week's statements by President Hugo Chavez Frias that Las Cristinas and other mining interests were to be turned over to the Russians for development despite expected "legal complications"!

VHeadline Venzuela News
vheadline@gmail.com

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