Agreement on project Canada’s Rusoro Mining has agreed a US$1.28 billion deal with the Venezuelan government which is to pay for the seizure of the firm’s gold projects.
"We are very pleased that we have agreed on terms of a settlement with Venezuela," Vladimir Agapov, the chairman of Rusoro, said in a statement. "We look forward to the execution of the Settlement Agreement and towards our continued relationship with Venezuela in assessing two of Rusoro's former gold projects regarding a potential partnership to restart production of the Choco 10 and San Rafael - El Placer mines."