The Ministry of Environment and Natural Resources (MARN), recently granted 13% of the Imataca Forest Reserve territory, an Area Under Special Administration, for mining exploitation.

The vice-president of mining affairs of the Venezuelan Corporation of Guayana (CVG), John Madero indicated that the state holding issued -for different companies- mining contracts in Imataca.

Once the environmental permits are given, these companies will restart their activities “perhaps in two years, we will have important deposits”, he said.

The Corporation is operating in the Las Cristinas mine, a diamond extraction project that requires a 350 million U$ investment, and also in the Choco 4 and 10 project (which will probably be inaugurated in December) in El Callao, under the administration of Promotora Minera Guayana.

This project, that will produce 125,000 ounces of gold per year, and generate 400 direct jobs, is a leased concession of the Corporation for this company. The company also built a mill to be handled by a cooperative for small miners in the area, he said.

Published in Quantum No.35