Venezuela Mining News

Venezuelan NGO says illegal mining runs rampant in protected, Indigenous land

Kapé-Kapé says that guerrilla groups and illegal miners have joined forces and are destroying protected areas in the southern Bolívar state.

Venezuela unrest may hurt Crystallex bid to reclaim $1.2B

Confusion over who’s in charge in Venezuela may keep Crystallex International Inc. from collecting a $1.2B arbitration award.

Smart money is piling into oil

Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector.

30 countries face higher resource nationalism risk — report

On the upside, the RNI report shows that 24 nations have seen improvements in their index performance.

U.S. sanctions Venezuelan gold company for supporting Maduro

This is the sixth round of sanctions since January by the U.S., which is seeking to wrest power and the military’s loyalty away from Maduro.

Citigroup says Venezuela deal covered $1.6 billion in gold

Citigroup Inc. said it entered into a financing deal with Venezuela’s central bank in 2015 essentially using $1.6 billion of gold held at the Bank of England as collateral.

As Maduro digs in, his aides hunt for emergency escape route

Nicolas Maduro is under pressure at home and abroad, and being encouraged by the U.S. to go to “a nice beach somewhere far from Venezuela.” The question is where would -- or could -- he go?

Maduro sold 40% of Venezuela's gold last year amid cash crunch

The government sold a total of 73 tonnes of gold to two firms in the United Arab Emirates and another in Turkey.

Venezuela trying to sell gold to stay afloat

The country is reaching for its last card as the deck collapses on President Nicolás Maduro’s failed regime.

Maduro halts 20-tonne gold shipment as jet flies off empty-handed

You will face severe sanctions if you allow Nicolás Maduro to steal the gold that doesn’t belong to him.

Venezuela has 20 tons of gold ready to ship. Address unknown

I’m going to start bringing Russian and Turkish airplanes every week so everybody gets scared.

In Maduro's Venezuela, even counting gold bars is a challenge

The country’s once vibrant exploration activity plummeted after Chavez came to power in 1999 and nationalized foreign companies’ mining licenses and assets.

The security risks of mining in Latin America

Americas Market Intelligence says companies need to do their due diligence.

Venezuela pays miner $425m in move to safeguard Citgo

If the required steps to fully implement the amended settlement do not take place Crystallex will go back to court to seize assets linked to Citgo.

Illegal gold mining spikes in Venezuela as locals struggle to survive

Constantly rising currency inflation means small amounts of gold are being used to pay for everyday staples.

OPEC+ faces risk of new oil surplus as prices slump

A technical committee representing the coalition projected on Saturday a global oil surplus will resurface in 2019.

Guyana Goldfields starts underground development at Aurora

The company is investing more than $120 million, which is a first in the history of the South American country.

Maduro blasts new US sanctions on Venezuelan gold

Nicolas Maduro said the sanctions are "crazy" and "schizophrenic."

New massacre in Venezuela's Mining Arc

Criminal groups fight to gain control of gold mines.

Canada’s Rusoro Mining reaches $1.3B deal with Venezuela

Settlement creates partnership that could lead to restarting production at Rusoro's former mines in the South American country.

Colombia asks for Venezuela's cooperation in case of five murdered miners

The workers were killed in a gold mine in the southern Bolívar state.

Venezuela to sell gold ingots to pensioners as inflation soars

The gold is meant as a more stable way for Venezuelans to hold their diminishing funds as inflation in the socialist nation runs at over 100,000 percent.

The latest episode in the Crystallex-Venezuela saga

PDVSA filed an appeal requesting that a Delaware court vacate a decision granting the Canadian miner the right to seize its U.S. assets.

Wait until you see the price of gold in Venezuela right now

Venezuela’s once prosperous economy destroyed by corruption and mismanagement.

Emerging market meltdown could undermine oil rally

Higher production doesn't necessarily mean higher oil prices are entirely out of the question.