Venezuelan President Hugo Chavez has sent a law to Congress aimed at taking control of unused gold and diamond mines in what would be a further blow to private investors. Companies with concessions they have not yet begun to exploit could lose them. Chavez has already increased state control over some oilfields at the expense of private companies. The proposed law would enable the government to take a majority stake in any non-operational mining concession in tandem with a private company.
Technorati Tags: Venezuela, Hugo Chavez, Gold and diamond mines, Oilfields, Eduardo Bravo Losada, Bravo & Bravo Losada, IGAF, IGAFLA, Accountants, CPAs, Accounting Firms
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