Venezuela's government has decided to put Las Cristinas gold mine, operated by Crystallex International Corp. under state control. "This mine will be recovered and will be operated under state administration,'' the Mining and Basic Industries Ministry said on Wednesday in a statement. | Hugo is getting desperate for cash? |
The company said it had not been informed of any change to its status in Venezuela.
The Venezuelan government has nationalized industries that President Hugo Chavez has deemed to be ``strategic.''
Mining Minister Rodolfo Sanz said in the statement that the government plans to seize other mining deposits to increase production of gold, diamonds, bauxite and uranium.