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"Crystallex International Corporation is a Canadian-based gold producer with operations and exploration properties in Venezuela."

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Message: The Worst Mining Jurisdictions in the World...

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The Worst Mining Jurisdictions in the World...

posted on Oct 30, 09 04:12PM

1. Venezuela, Grade 3.7/100

Contraband [01] Cúcuta, the Colombia-Venezuela frontier by Jan Sochor.

Gasoline smugglers (pimpineros) with their contraband fell into the water of the river Táchira. One load of gasoline barrels may reach over 200 kilograms. [Cúcuta, the Colombia-Venezuela frontier]

As one company Vice President in the report said, "In Venezuela, if you build it, Hugo Chavez will steal it." It doesn't matter much how you look at Venezuela, this is one tricky place to build a mine. While the country ranks poorly in infrastructure and existing geological data, it's right at the bottom when looking at political stability, labour regulations and security.

Today, Hugo Chavez's government continues to seize control of mines in the country. On October 27, U.S. mining company Gold Reserve Inc. said that the Chavez regime had seized control of its lucrative Brisas del Cuyuni project in southeastern Bolivar state.

The trouble is, Chavez appears incapable of running mines himself, except into the ground. The result is increasing poverty and corruption, crumbling infrastructure and a country that is sliding backward economically and socially. Even Cuba is heading in the opposite direction.

http://www.resourceintelligence.net/the-worst-mining-jurisdictions-in-the-world/3520

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This is an English version of the Crystallex - CVG mining contract in summary form. read more