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 Mining News
Gold Reserve says initial $300m payment from Venezuela government under $770m copper-gold project seizure settlement "expected in the next few days."
Venezuela government given more time to come up with initial payment which has been halved to $300 million.
Latest data show Russia continuing to stock its gold vaults, although Venezuela's sales are denting overall official sector net purchases in 2016.
Advocacy groups are taking issue at the Mining Arch of the Orinoco River National Development Strategic Zone.
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.
Shares in Rusoro Mining soars 122% after international arbitration tribunal awards damages over late president Chavez's seizure of its gold mines in 2011.
Extreme shortages of food and power continue to ravage the country of Venezuela, and ordinary people have been paying the price.
Gold Reserve’s senior executives are in Caracas and had made significant progress towards completing the agreements.
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.
The agreement will see the parties embark on a joint venture that will run the Las Brisas and Las Cristinas mines.
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.
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.
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.
The country's armed forces raided 63 illegal mines operated by leftist guerrillas, blowing up machinery and arresting dozens.
The nation signed a complex deal with Citibank to swap $1 billion in cash for about 1.4 million ounces of its gold reserves.
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.
The potash and oil-rich province was placed at the top of the Fraser Institute's annual rank of mining companies.
France is the world's fifth-largest holder of gold, only behind the U.S. Germany, the IMF and Italy.
De Nederlandsche Bank secretly brought 120 tonnes of the European nation's gold reserves held by the Fed in New York back to Amsterdam.
Miner allegedly failed to pay the soldiers a periodical fee in exchange for them turning a blind eye to illegal mining on Venezuelan territory.
The miner became the latest corporation to sue the nation over the way it has treated foreign companies during Hugo Chavez administration.
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.
Includes involvement of police and military forces.
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.