Monday, August 08, 2016

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Anonymous said...

Gold Reserve Shares Surge on $770 Million Venezuelan Settlement

The mixed company will be owned 55 percent by Venezuela, which will put up mineral rights under a 40-year arrangement, and 45 percent by a unit of Gold Reserve, which will provide engineering, procurement and construction services. The two parties will work together on financing the estimated $2.1 billion cost of developing the Brisas Cristinas project, Gold Reserve said.
Mining Boost

Venezuelan President Nicolas Maduro announced the joint venture last week, without giving details. His government is turning to mining as a way to boost one of the fastest-shrinking economies in the world.

will other countries follow?