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Venezuela, South Africa strike mining deal

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Staff Writer | June 5, 2017
Godfrey Oliphant and Víctor Cano
Industry   Godfrey Oliphant and Víctor Cano

After several years of talks and visits, Venezuela and South Africa finally signed an agreement on the organization of joint ventures in the business of mining, particularly diamonds, in Orinoco Mining Arc, south Venezuela.

South African Deputy Minister of Mineral Resources, Godfrey Oliphant, and his Venezuelan counterpart, Víctor Cano, inked the agreement, with a focus on environmentally friendly technology.

Earlier, Venezuelan President Nicolás Maduro informed that the work area covers 10,000 hectares, estimated to hold about 40 million carats of diamonds.

The agenda of the South African delegation on visit to Venezuela started with a meeting with the board of the Central Bank of Venezuela (BCV), and included a tour of the Orinoco Mining Arc.

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