Record fever of gold-rush in Venezuela

February 1, 2006
The price of gold at the global market keeps on rising, that, most likely, reflects even bigger (hidden so far) distrust of bankers, capitalists and generally well-off people to reliability of dollar within a medium-term trend. Gold is not decreased in value, and therefore, prudent oligarchs and plutocrats slowly transform their «dollar-money mass» into gold bars that they conceal in personal vaults of various banks.

Venezuelan gold-diggers responded to abrupt price hike for gold by increasing its production. Indeed, if a troy once in 2005 was about 450 USD, this year, the price is forecast to rise up to 525 USD, whereas in 2007, as per a number of authoritative experts, can reach 580-600 USD.

Against the background of this sensational rise of gold production efficiency, the Venezuelan state company CVG-MINERVEN «brought to grass» 3,900 kg of the precious metal in 2005, exceeding the previous year yield by 670 kg.

If we sum up the amount of gold, produced by the state and private entrepreneurs in 2005, according to preliminary calculations, it exceeded 12,000 kg and in the nearest years will reach 15-16 thousand kg.

The most «gold-bearing» state of Venezuela – Bolivar – is in festive mood: to mine gold has become as profitable as producing oil. Mining companies from all over the world explore the chances to peg «perspective» plots. But it is the best for those who are already operating in the state, as for example, the North American company Hecla Mining and Canadian Crystallex International and Bolivar Gold.

Onflow of fresh investments into the region opens bright perspectives for its further development, and, of course, for the guaranteed profits of the companies and separate gold-diggers, among whom one can meet the representatives of all Latin American states, the Caribbean, as well as Asia and Europe. Sometimes the Russian speech is also heard. Who has not been but lured by gold mirages of the Venezuelan remote areas!