VHeadline editor & publisher Roy S. Carson writes: Reuters is reporting that the Venezuelan government has not yet decided the toss on who is to exploit the giant Las Cristinas gold mine in southern Bolivar State where Crystallex International Corporation (KRY) is still waiting for final EIS permits to begin work under an exclusive mine-operating contract signed four years ago.Basic Industries & Mines (Mibam) Minister Rodolfo Sanz is cited by Reuters as saying "the Venezuelan State is ready to exercise sovereign control over its strategic mineral deposits" but that this does NOT preclude any (other) form of relationship/partnership and that the government "will study each (individual) relationship/partnership" on its merits.
Sanz only briefly mentioned Crystallex/Las Cristinas in the Reuters report although the government had recently said that Russian-Canadian Rusoro would be participating in an extended VenRus joint venture to operate the site, estimated to hold gold reserves of some 35.2 million troy ounces.
- Somewhat side-stepping the issue, Sanz said that a decision on Crystallex' future with the Las Cristinas project has not yet been made, adding that "when we have a decision, they will be contacted!"
This latter statement would be logical while negotiations continue between the Russians and Venezuelan government as to the future of Venezuela's mining resources.
Nevertheless, Sanz confirmed that the government (state-owned gold corporation CVG-Minerven) is associated with Rusoro in the RusVen joint venture and that RusVen is already operating the La Camorra and Isidora mines in southern Bolivar State.
The information coincides with facts gleaned from an exclusive VHeadline interview with Agapov Group CEO Andre Agapov, who adamantly refused to be drawn on the subject of Las Cristinas while his company continues with its bid to take over the Las Brisas del Cuyuni gold mine, adjacent to Las Cristinas.
Usually media-cooperative Crystallex executives have remained close-lipped on developments in Venezuela since news of the VenRus joint venture (signed in November) first broke ... we have repeatedly sought clarifying interviews with Crystallex executives since mid-December, but have been routinely told that they will issue no statement or comment until such times as they, themselves, decide if they have anything to say.Based in London-England, the Agapov Group's CEO Andre Agapov has consistently insisted, and local residents in southern Bolivar State agree, that part of the transnationals' (Crystallex/Gold Reserve) problem in Venezuela is that the government of President Hugo Chavez Frias has balked at giving the companies the final permits while government officials take their time to review other alternatives suggested by, among others, the Russian Agapov Group.
Meanwhile, VHeadline can today reveal that preparations are being made for a high-powered Russian government/trade delegation to hold talks with government and industry officials in Caracas in March, during which event it is understood that a series of multi-billion $ investments in Venezuela will be announced ... including major investments in the Venezuelan gold mining sector.
Roy S. Carson
vheadline@gmail.com
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