Sunday, March 14, 2010

 
 
 

 
 
 
 
 
Venezuela has 50 million ounces of gold in the ground... One Russian company has access to all of it.
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Friday, March 06, 2009
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Venezuela collects 90% of its export revenue from oil. So collapsing energy prices have spurred the country to turn to other natural resources like coffee, cacao… and gold.

But lunatic dictator Hugo Chavez has allowed only one company to tap into Venezuela's gold… Russian mining company Rusoro. With Chavez's blessing, Rusoro has access to 37 million ounces of Venezuela's gold… the vast majority. And Chavez will probably throw competitors out in the near future, giving Rusoro a monopoly.

If the company can stay in Chavez's good graces, it will pocket a nice windfall.

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Topics: Gold | Commodities
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