any comments on the following Globe & Mail News story. Not sure if this has already been posted.
The Globe & Mail Sat Jan 24 1998
Bloomberg News
VENEZUELA WANTS CRYSTALLEX TALKS
CARACAS- Crystallex International Corp's chief executive officer is expecting to meet with Venezuelan governement officials next week amid growing speculation the government may try to force a settlement to a legal dispute that has paralyzed work at the country's largest gold mine.
Marc Oppenheimer is scheduled to meet either Erwin Arrieta, the minister of energy and mines, or his deputy, Evanan Romero, ministry officials said.
A spokesman for Vancouver-based Crystallex said the meeting will take place Monday or Tuesday.
On Wednesday, Minera Las Cristinas CA, a joint venture between Placer Dome Inc. and the government's heavy industries holding company, Corporacion Venezolana de Guayana, said it suspended work at the disputed mine, called Las Cristinas. Vancouver-based Placer Dome said work will remain suspended until the Venezue Supreme Court rules on an appeal filed by Crystallex contesting ownership to the property.
Placer Dome officials said the decision was made because they had trouble securing financing while title to the property is in doubt.
They also said they won't make any out of court settlement with Crystallex, even though Crystallex's lawyers said they are open to settling the impasse, which has stretched on for more than a year.
"We won't negotiate on this," said Jose Antonio Pinedo Sucre, Placer Dome de Venezuela's legal counsel.
Placer Dome owns 70 per cent of the venture and the state company 30 per cent.
The court is reviewing a July 15 decision by Supreme Court justice that rejects Crystallex's claims to the Las Cristinas gold deposits but agrees to hear the company's claims to its copper deposits. |
