If indeed Venezuela has waited and delayed the new mining law due to President Chavez' political focus and quest for continued re-election ... if indeed Venezuela has delayed due to reviewing all of the concessions granted by past political administrations ... NOW of all times, with the Executive branch in charge and control of projects already reviewed and approved, it's time to put these projects to work for the good of Venezuela..
In the worldwide financial crisis NOW is NOT the time to add even more strain to companies needing finance to proceed further into production. Within the mining industry, specifically, there are equipment shortages and order backlogs which make production an even greater challenge.
Professional economists have also been predicting the economy will get much worse with an even greater recession than most politicians fear.
As an investor in Venezuelan gold, I have great faith in the investments that Venezuela has to offer. It's apparent that Venezuela will be a force within the entire mining investment world ... but, over the last few years, the Government of Venezuela has given out mixed messages as far as their intentions with regard to transnational investment. In some instances, they are welcoming with great public statements and at other with threats...
As an investor, I can see the need for company diversity in order to survive tough environments but the thought of individuality and total assimilation as an entire system will simply not succeed.As an investor, I can see projects such as las Brisas and Las Cristinas will eventually come to a conclusion.
It's only all too transparent as to the intention other companies have with regard to Venezuela, and their timing and circumstances are in favor of hostile attempts to steal companies for half their value. This play on public opinion is common throughout the investment world and NOT just isolated to one region ... a hostile political atmosphere is always the best place forf other companies to attempt to improve their own agenda.
When it comes to the steel industry, common sense, as well, indicates a need for coal and coal production and open pit mining ... in Venezuela's case, there's also a need for massive infrastructure replacement which in future will require both industries at full production. It would make no economic sense to import a commodity which is presently in surplus within Venezuela's own region.
In today's scenario of growing economic disaster, NOW is the time for Venezuela to step up to the plate for its turn to bat. It's time to make believers out of those with only negative views of Venezuela and its government's incompetences. Time moves for no man, even in Venezuela, since everyone has seen over the past few years ... but the time is NOW to determine the economic outcome of a great vision of a prosperous Socialist country.
With political agendas now an historical past ... let's get back to the future!