Chavez Formalizes Nationalization of Gold Industry

Source:

"President Hugo Chavez' formal decree aims to give the government total control over gold produced in the South American country."

Associated Press

President Hugo Chavez signed a decree Tuesday formalizing the nationalization of Venezuela's gold mining industry, a move aimed at giving the government total control over gold produced in the South American country.

Speaking during a televised speech, Chavez also announced the repatriation of $11 billion in Venezuelan gold reserves currently held in U.S. and European banks would begin within several weeks. . .View full article

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