CRYSTALLEX INTL CORP Profile

Crystallex is crystal clear about what it's after: gold. The company's main development project is the Las Cristinas gold mine in Venezuela. That property, located in Bolivar State, contains around 17 million ounces in proved and probable reserves. Other operations included the Tomi mine (gold in Venezuela), La Victoria mine (gold in Venezuela), and the Revemin Mill (ore processing in Venezuela). Those permits, however, were taken back under Venezuelan state control in 2008, and Venezuelan President Hugo Chavez announced in 2010 he was considering nationalizing all gold mine concessions. Crystallex later entered a joint venture with China Railway Engineering Corporation to restart development on the project.