Venezuela Publishes Law Nationalizing Gold
Source: AFP (9/21/11)
"Chavez' new policies require foreign mining firms to enter into partnerships with the state."
Venezuelan President Hugo Chavez' nationalization of the exploration and production of gold became law on Monday, requiring foreign firms to enter into partnerships with the state.
The law, decreed by Chavez last month and published in the Official Gazette on Monday, will allow private firms to mine gold, but only in partnerships with the government in which the state will receive royalties of up to 13%. . .View full article