Crystallex’s Planned Exploration Gold Mine in Bolivar
Crystallex International Corp. won’t receive approval for an open-pit gold mine in Bolivar state because the project may cause deforestation, Environment Minister Yubiri Ortega said.
Venezuela won’t allow any open-pit mines for gold, diamonds or coal, Ortega told reporters today in Caracas. Crystallex and Gold Reserve Inc., which owns a copper and gold mine in Venezuela, said on April 30 that they were told Ortega’s ministry planned to reject or revoke their permits.
“If it can only be mined from underground, it’ll be unlikely anything will be economic as an underground mine,” Kerry Smith, a mining analyst at Haywood Securities Inc. in Toronto, said in a telephone interview. Read more » »
May 16th, 2008 | No Comments »
