(MENAFN) China International Trust and Investment Corp. (Citic) and Venezuelan officials have agreed to jointly develop a gold mine in the Latin American country, AP reported.
Las Cristinas gold mine in southern Bolivar state was estimated to hold about 17 million ounces of gold. President Hugo Chavez described the gold mine as one of the world's largest gold mines.
Officials said the agreement includes engineering, construction and processing of the gold and copper.
Chavez said officials also signed an agreement to produce a map of mineral deposits in the South American country.
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