[Marxism] Chavez says Venezuela to nationalize gold mines

Greg McDonald gregmc59 at gmail.com
Wed Aug 17 14:28:11 MDT 2011


http://www.msnbc.msn.com/id/44179237/#.Tkwjhq4lfrs

Chavez says Venezuela to nationalize gold mines

CARACAS, Venezuela — Venezuelan President Hugo Chavez has announced he
will nationalize the country's gold mines and gold extraction
industries.

Chavez said Wednesday that Venezuela will deposit some of that gold
into its international reserves.

The Russian company Rusoro Mining Ltd. controls one of Venezuela's
most important gold mines in the country's southeast. In February, the
government

canceled the gold mining concession of a Canadian company.

Chavez made the announcement Wednesday during a telephone call
broadcast during a military ceremony. He said he will soon issue a
decree carrying

out the nationalization.

It's unclear how the decree is different from a 1965 law that
nationalized gold mining in the country. In 1977, the government
granted itself exclusive rights

for extracting gold.




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