Venezuela offers Rusoro partnership in gold mines

Economy
The Venezuelan government will offer Rusoro a partnership to develop the giant gold mines Las Cristinas and Brisas, and it is planning to rescind its links with Canadian Crystallex and Gold Reserve.

These two companies have been waiting for years for government licenses to operate the mines.

Venezuela's Minister of Basic Industries and Mining Rodolfo Sanz told a group of Russian businessmen that a memo of understanding would be signed soon with Rusoro, reported Reuters.

Crystallex has an operational agreement to develop Las Cristinas, and Brisas has been granted to Gold Reserve. The mines located in south Venezuela are considered among the largest undeveloped deposits in the world.

According to the senior officer, Venezuela will need to terminate the relations with the mining companies that currently operate in the area.