International news within the industry of mining and metal, Nov, 15 2018
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Canadian miner accepts Venezuelan $1.28BN deal

Photo: Rusoro Mining
Photo: Rusoro Mining
Published by
Jaroslaw Adamowski - 18 Oct 2018

Agreement on project Canada’s Rusoro Mining has agreed a US$1.28 billion deal with the Venezuelan government which is to pay for the seizure of the firm’s gold projects.

"We are very pleased that we have agreed on terms of a settlement with Venezuela," Vladimir Agapov, the chairman of Rusoro, said in a statement. "We look forward to the execution of the Settlement Agreement and towards our continued relationship with Venezuela in assessing two of Rusoro's former gold projects regarding a potential partnership to restart production of the Choco 10 and San Rafael - El Placer mines."