Venezuela says signs $5.5 bln mining deals with companies
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
CARACAS (Reuters) - Venezuela has signed over $5.5 billion in mining deals with companies including Canada's Barrick Gold Corp (NYSE: ABX) and China's Shandong Gold, President Nicolas Maduro said on Friday.
Barrick, the world's largest gold producer, said in a statement that "at the invitation of the government, we intend to review information pertaining to mining opportunities in the country."
A spokesman for the Toronto-based company did not respond to questions about spending or development plans in the country.
"Today we are signing investments and letters of commitment for projects for over $5.5 billion," said Maduro in a televised meeting with foreign mining executives.
The deals are part of a plan to ease the OPEC nation's grave economic crisis that has caused food shortages and supermarket riots.
Earlier this month, Maduro said Venezuela had struck $4.5 billion in mining deals with foreign and domestic companies. He also said that he expected $20 billion in mining investment contracts to be signed in coming days.
It was unclear if the $5.5 billion were part of the broader $20 billion investments.
(Reporting by Diego Ore and Susan Taylor in Toronto, writing by Alexandra Ulmer; editing by Meredith Mazzilli, Bernard Orr)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nigerian President Buhari tells Senate that he will take ten days leave: source
- Schaeuble says Britain should not use corporate tax rates to gain advantage
- Ex-VW CEO denies early knowledge of diesel emissions cheating
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!