Friday, May 16, 2008
Watch mining shares drop and gold prices go up?
Environment Minister Yuviri Ortega said the South American country will not give permits for any open-pit mines and will not allow companies to look for gold in its vast Imataca Forest Reserve. "Venezuela will deny environmental permits for the open-pit mine exploitation," Ortega told Reuters in an interview. "Neither private or public companies will for now explore Imataca's gold." Is this Chavez turning all green on us, or just trying to boost the value of his gold reserves, or thirdly sees America is struggling and has decided to twist the knife