Agreement reached in Venezuela dispute with Gold Reserve

Wed Feb 24, 2016 6:41pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

CARACAS Feb 24 (Reuters) - A solution was reached in Venezuela's arbitration dispute with Gold Reserve Inc., with the Canadian company providing a $2 billion loan and a $2 billion investment as part of a mining joint venture, according to President Nicolas Maduro.

Gold Reserve was awarded $750 million by the International Centre for Settlement of Investment Disputes (ICSID) for the 2009 termination of its Las Brisas gold concession by the OPEC nation. (Reporting by Alexandra Ulmer; Writing by Girish Gupta; Editing by Chris Reese)