Venezuela Mining News

Emerging market meltdown could undermine oil rally

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

Artisanal miners in Venezuela operate under illegal unions

Illegal extraction of gold and other metals and their subsequent smuggling to foreign markets is seen by many as a way to navigate the current crisis.

Venezuelan army’s economic prize begets a bloody grab for gold

The bank is selling off gold to keep the country afloat, drawing down its reserves of the metal to $6.6 bn from almost $20 bn at the beginning of 2012.

Venezuelan Catholic Church worried about mining devastation

"The church but the entire world is worried about the environmental degradation that unregulated mining activities are causing in the Bolívar and Amazonas states."

Venezuela gold reserve value falls 14% in 2017

Gold now represents just under 70 per cent of the Central Bank's international reserves.

US judge rules against Venezuela in dispute with Rusoro

Judge Richard J. Leon has stayed Rusoro’s CSID Expropriation award against Venezuela registered in the U.S.

Venezuelan government defends Mining Arc, environmentalists say it’s not working

Very few of the 150 companies who expressed interest in investing in the Mining Arc actually presented concrete offers.

18 die in clash at Venezuelan gold mine

Eighteen people have been killed in Venezuela at an illegal gold mine following clashes with security forces.

Guyana Goldfields goes underground, stops worrying about Venezuela

The Canadian company is set to invest $120 million to conduct underground gold mining for the first time in Guyana’s history.

Crystallex requests new hearing in lawsuit against Venezuela

The Canadian company alleges that the South American country is performing “fraudulent transfers.”

Following detention, journalist publishes controversial story about Venezuela’s Mining Arc

Rampant violence and corruption are the norm in the mines of the southern Guayana region.

U.S. court rules against miner Crystallex in Venezuela dispute

Crystallex International Corp is seeking to collect $1.2 billion plus interest awarded in 2016 by a World Bank tribunal against Venezuela, which Venezuela has refused to pay.

Venezuela backs its new cryptocurrency with 5 billion barrels of crude

Venezuelan President Maduro shocked the market in early December when he followed China's 'petro-yuan' futures announcement by making headlines of himself proclaiming a new national cryptocurrency - the 'Petro' - to overcome The West's "financial blockade."

Oil-rich Venezuela is out of gas

"In Venezuela, we are out of gas. In Venezuela, there is no gas oil. In Venezuela, there are no lube oils."

Venezuela’s foreign reserves hit by expired $1.7 billion gold swap with Deutsche

Bonds issued by Venezuela and PDVSA were down across the board on Monday, with some falling as much as 2.5 points.

Crystallex moves forward in legal dispute with Venezuela

A court in the District of Columbia is allowing Canadian Crystallex the possibility of advancing in a legal dispute against Venezuela

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.