Crystallex International Corporation

Crystallex International Corporation
Public
Industry Gold
Headquarters Toronto, Ontario, Canada
Key people
 Robert Crombie (CEO)
Number of employees
 250 (2008)[1]
Website www.crystallex.com

Crystallex International Corporation (OTCQB: CRYXF) is a Canadian corporation engaged in gold mining and exploration. It operates open-pit mines and exploration sites in Venezuela. Its current level of output characterizes it as a junior gold producer.[2]

Las Cristinas exploration & development

On 14 June 2007, Crystallex announced that it had completed all necessary steps in the permitting process and had received approval from the Venezuelan Ministry of the Environment to begin mining operations at its Las Cristinas site.[3][4]

On 30 April 2008, Crystallex has been denied a key important environmental permit. Crystallex will not be able to construct the mine without the environmental permit[5]

Venezuela Arbitration

Crystallex has been litigating for losses relating to nationalization of the Las Cristinas mine in 2008.[6][7] In August 2018, a US federal judge ordered the Venezuelan government to immediately pay bonds towards $1.2 billion to Crystallex or to provide shares of PDV Holding Inc., the parent company of Citgo.[8]

References

  1. ↑ "Company Profile for Crystallex International Corp (KRY)". Retrieved 2008-10-08.
  2. ↑ Crystallex International Corporation Website
  3. ↑ Crystallex's Las Cristinas Permit Granted Archived 2007-08-01 at the Wayback Machine., Seeking Alpha, 14 June 2007.
  4. ↑ Crystallex Updates Shareholders Regarding Permitting for the Las Cristinas Gold Project Archived 2007-06-22 at the Wayback Machine. Crystallex International Corporation press release, 14 June 2007.
  5. ↑ Crystallex Updates Shareholders Regarding the permit for the Las Cristinas Gold Project Archived 2008-05-02 at the Wayback Machine. Crystallex International Corporation press release, 30 April 2008.
  6. ↑ "Crystallex wins U.S. court order to seize Venezuela funds". Reuters. 2017-08-25. Retrieved 2017-08-27.
  7. ↑ Araujo, Carlos (2017-08-18). "Crystallex Goes for the Jugular". Caracas Chronicles. Retrieved 2017-08-27.
  8. ↑ Wernau, Julie (2018-08-24). "Judge Orders Sale of Citgo's Parent Unless Venezuela Posts Bond". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-08-24.
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