Industry News by Nemesis

Russia May Start Mining Diamonds In Venezuela

April 8, 2018

According to Venezuela’s Ecological Mining Minister Victor Cano, the Russian and Venezuelan delegations attending the meeting of the Intergovernmental Joint Commission held in Caracas discussed the possibility of giving Russia a chance to mine diamonds, gold and other minerals in Venezuela, TASS says in a report distributed on Wednesday. 

 

 Orinoco Mining Belt, Venezuela                                                                                     Image credit: AirPano

“We have discussed the possibility that they [Russian companies] will mine minerals here - diamonds and gold in the first place. It is very important for the development of technologies as well as for the Russian industry. Besides, we have talked over the provision of equipment necessary for mining. In Russia, there are companies that produce such technological means,” said Venezuela’s minister as quoted by TASS. 


Russia’s Deputy Minister of Industry and Trade Oleg Ryazantsev and Venezuela's Sectoral Vice President of Economy Castro Soteldo participated in the negotiations in Caracas. 


In 2017, Venezuela signed an agreement with South Africa to create a joint venture to mine diamonds in the Orinoco area in South Venezuela. According to some data, the target area covers 10,000 hectares of land and contains about 40 mn carats of diamonds.

 

Source: Rough&Polished

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