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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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Message: Pertaining to Crystallex............. ARE THESE GUYS GONNA GET IT RIGHT!!!!!!!!! Arggggggg. More Posturing, doesn't end. ify

The author of this article is Rafael Ramirez, former Oil Minister, PDVSA President and U.N. Embassador under Chavez and Maduro. The Maduro government acuses R. Ramirez of presiding over the rampant corruption that ruined PDVA and with it the economic debacle of the Republic. 

I have translated the portions related to Crystallex.

A government officer that spent the last 20 years managing the main source of income of the Republic points out in this article what is now self-evident: that corruption in Venezuela is pervasive and in the hands of "agents" making self-serving deals at the expense of the Republic.  

Key points in the Ramirez' article:

"What has happened to the country's assets abroad would merit an intervention by the Justice. For example, a Delaware judge has authorized the auction of Citgo, in favor of the company Crystallex to collect 1.400 million dollars; But it turns out that this amount was expressly offered by the Maduro government in 2018 to that company.

In other words, Crystallex has legal possibilities to claim this money in the United States because the Maduro government offered it to it, when it reached an agreement with this Canadian company for it to return, after its concession had been revoked in the government of President Chávez. . The Maduro government had already paid Crystallex 425 million dollars to sign the agreement, and also signed documents in which it promised to pay up to 1.4 billion dollars.

The big question is, why did Maduro agree to pay that exorbitant sum to Crystallex, since this Canadian briefcase company did not produce a single gram of gold in the country, and did not make any investment?

To give an idea of ​​the illegality and disproportion of the performance of Maduro in the management of the country's assets, it is appropriate to point out that in the international arbitration trials that Exxon Mobil filed against the Republic, before the CCI (Chamber of Commerce International, in Paris) and the ICSID (International Center for Settlement of Investment Disputes, an organization of the World Bank, in Washington), and that we won overwhelmingly although the transnational demanded an exorbitant payment of 16 billion dollars for all its assets. In the country - that is, oilfield upgrades and development - international courts ultimately ruled a payment to Exxon of only $ 900 million, an amount far below the amount that Maduro paid Crystallex in exchange for nothing.

This makes it clear that behind that mature agreement with Crystallex which gave way to the lawsuit for which Citgo is being taken away from us today, there is the hand of some "agent" of madurismo.

The same has happened with the US mining company Golden Reserve, the Cienfuegos Refinery, Nynax, Petromonagas, PetroSinovensa, PetroZamora, ships, drills, companies and so many other assets and assets of the Republic that Maduro has disposed of at his convenience."

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