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Venezuela closes door to new open-pit gold mines
Posted on May 15, 2008
Reuters reports: Venezuelan Environment Minister Yuviri Ortega said the South American OPEC member will not give environmental permits for any open-pit mines and will not allow companies to look for gold in its Imataca Forest Reserve. This follows a decision in late April to refuse Crystallex [AMEX:KRY; TSX:KRY] long-awaited environmental permit needed to commence construction at the Las Cristinas gold project. Likewise, Gold Reserve s [AMEX:GRZ; TSX:GRZ] environmental permit for Las Brisas was rescinded. Read RI s coverage here and here. However, this decision likely had more to do with t...
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