Re: Venezuela and China Team Up to Develop Major Gold Mine

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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Pi106

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Re: Venezuela and China Team Up to Develop Major Gold Mine

in response to

Venezuela and China Team Up to Develop Major Gold Mine

ifeelyellow

posted on Oct 03, 2012 06:02PM

" Venezuela... sells China 640,000 barrels of oil15 per day. Of that amount, 264,000 are used16 to pay down debt."

That leaves 376,000 barrels of oil per day that China must pay for. At $90/brl oil, that means that China transfers roughly $40 million USD (or equivalent) per day to VZ. Regardless of what currency is used for payment, China is obligated to enforce ICSID judgements, no?

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