Venezuela Mining News

Illegal gold mining in Venezuela causing deaths, malaria, gang fights and deforestation

A three-year recession in Venezuela paired with ramping inflation and food shortages has prompted many mining for gold in mafia-run illicit operations.

Venezuela misses payout to Spokane gold junior

Gold Reserve says initial $300m payment from Venezuela government under $770m copper-gold project seizure settlement "expected in the next few days."

Gold Reserve, Venezuela rework seizure settlement

Venezuela government given more time to come up with initial payment which has been halved to $300 million.

Gold price: If you're selling central bankers are buying

Latest data show Russia continuing to stock its gold vaults, although Venezuela's sales are denting overall official sector net purchases in 2016.

NGOs want Venezuela to halt mining concessions, claim violations of Indigenous rights

Advocacy groups are taking issue at the Mining Arch of the Orinoco River National Development Strategic Zone.

Peru, Brazil to emerge as Latin America’s new mining gems

Peru’s significant copper project pipeline and Brazil’s competitive iron ore sector will consolidate them as main drivers of investment in Latin America’s mining sector, says BMI Research.

Venezuela ordered to pay Vancouver miner $1.6 billion

Shares in Rusoro Mining soars 122% after international arbitration tribunal awards damages over late president Chavez's seizure of its gold mines in 2011.

INFOGRAPHIC: The trajectory of Venezuelan hyperinflation looks familiar…

Extreme shortages of food and power continue to ravage the country of Venezuela, and ordinary people have been paying the price.

Gold Reserve announces extension of Memorandum of Understanding with Venezuela

Gold Reserve’s senior executives are in Caracas and had made significant progress towards completing the agreements.

Venezuela fights crisis with biggest sovereign gold sale since 2007

Venezuela held the biggest gold sale by a central bank in eight years as the country’s economic crisis deepened in the first three months of 2016.

Venezuela, Canadian gold miner settle dispute in $5 billion deal

The agreement will see the parties embark on a joint venture that will run the Las Brisas and Las Cristinas mines.

Here comes another Venezuela gold fire sale

Crisis-hit Venezuela has $9.5 billion in debt payments due and really only its gold reserves to pay for it. But these bullion deals come at a steep discount.

Liquidation time for Venezuela (and its gold)

Crisis-hit Venezuela has $3.5 billion in debt payments due within 10 days (and $12 billion in 2016) and really only its gold bullion reserves to pay for it.

Venezuela ready to dump 80 tonnes of gold

With no hard currency and $5 billion in debt payments due before the end of the year, the country's bullion held in Caracas is its only source of cash.

Major blow to illegal mining in Colombia’s Amazon: 59 arrested

The country's armed forces raided 63 illegal mines operated by leftist guerrillas, blowing up machinery and arresting dozens.

Here is why Venezuela traded 1.4 million ounces of its gold reserves to Citi

The nation signed a complex deal with Citibank to swap $1 billion in cash for about 1.4 million ounces of its gold reserves.

The bottom is in. Venezuela restarts iron mine after 18 years

OR NOT. As iron ore prices fall to 7-year lows struggling South American nation reopens 18 billion tonne Cerro Bolivar mine mothballed since 1997.

Canada’s Saskatchewan second only to Finland as world’s top mining destination

The potash and oil-rich province was placed at the top of the Fraser Institute's annual rank of mining companies.

France may be next in line to bring its gold back

France is the world's fifth-largest holder of gold, only behind the U.S. Germany, the IMF and Italy.

The Dutch do what the Germans couldn't: Get their gold back

De Nederlandsche Bank secretly brought 120 tonnes of the European nation's gold reserves held by the Fed in New York back to Amsterdam.

Venezuelan army said to have trespassed Guyanese border, attacked miners

Miner allegedly failed to pay the soldiers a periodical fee in exchange for them turning a blind eye to illegal mining on Venezuelan territory.

Anglo American seeks $600 million compensation from Venezuela

The miner became the latest corporation to sue the nation over the way it has treated foreign companies during Hugo Chavez administration.

Alberta most attractive mining destination in Canada, third worldwide

Other two Canadian jurisdictions —New Brunswick and Newfoundland and Labrador— also made it to the top 10 worldwide. Kyrgyzstan and Venezuela, named the two countries mining enthusiasts should stay away from.

Peru announces national strategy against illegal mining

Includes involvement of police and military forces.

Colombia wants illegal mining to be international crime

Together with the other three members of he Andean Community of Nations —Ecuador, Peru and Bolivia— the country has committed to destroy machinery and even properties that can’t be seized.