CARACAS, Monday November 12, 2012 | Update
MINING | The company is to pay workers off

Venezuelan gov't takes over Loma de Níquel mine

"The State will take control" of the mine "through Petróleos de Venezuela (Pdvsa)," said CEO Carlos Dini

Monday November 12, 2012  02:33 PM
Last Saturday, at 12 a.m., multinational Anglo American handed over to the Venezuelan State the control of Loma de Níquel mine, upon the expiration of the concession and failure to get a renewed term for the operation.

"We already made the transfer to the Venezuelan State through records and all documents," as appropriate, CEO Carlos Dini said on the telephone.

"The State will take control" of the mine "through Petróleos de Venezuela (Pdvsa)," he elaborated. As a matter of fact, "today, they are operating the site."

Dini commented that the State refrained from taking over the company "with liabilities." Hence, "we are paying the whole staff off."

He recalled that Anglo American worked for 20 years in Venezuela. "At the beginning, we were in the exploration stage of the mine. However, we would run it for 12 years. President Hugo Chávez opened the company."

With reporting by Mariela León
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