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Venezuela Says Gold Reserve Accord Paves Way to Investment

  • Gold Reserves to invest $2 billion in Venezuelan mining JV
  • Agreement includes $2 billion loan for Venezuelan government

Venezuela’s government said it resolved a dispute with Gold Reserve Inc., paving the way for $2 billion of investment by the Spokane, Washington-based company in a mining joint venture.

The deal also includes a $2 billion loan to Venezuela, Oil Minister Eulogio Del Pino said at an event broadcast on state television Wednesday. Gold Reserve President Doug Belanger was at the event. Phone calls to the company were not returned this morning.