Russian company ТехЦветмет wants to invest in Venezuela to produce nickel

After a visit to the Loma de Níquel mine, representatives of the Russian company ТехЦветмет declared their intention to invest in Venezuela to boost mining production.

Serguei Steshenko, general manager of the Russian firm – which has experience in the treatment of ferrous scrap, and develops joint projects for nickel processing in Guatemala and Cuba – said the company is willing to invest in the exploitation of this deposit, as well as in the modernization of the associated plant headed by the Venezuelan Mining Corporation (CVM).

The representative of the mentioned company explained that Loma de Níquel is a mine with great potential that makes it “attractive” to investment and the establishment of commercial relations.

Thus, he showed that one of the objectives of the Russian investment would be to activate an axis of mining production with Venezuela, Cuba and Guatemala, whose development gives strength to the economy of the countries participating in the alliance.

Venezuela, in the first row

The general manager of Tehvetvet revealed that there is a high probability that this mining company has a chapter in the pages of commercial history between Russia and Venezuela.

“Venezuela is in the front row among the countries of Latin America and the Caribbean to establish productive alliances, because of their political and economic level. Our main interest is to participate in the commissioning of the CVM Loma de Níquel plant”, stressed Steshenko.

Alternative value added mining

Regarding the usefulness of a possible strategic alliance, the Minister for Ecological Mining Development, Víctor Cano, indicated that an agreement with Tekvemetme “means the possibility of incorporating technology to produce refined nickel. Venezuela, right now, only processes ferronickel (80% iron and 20% nickel). Refined nickel has a higher market price, as well as growing demand in the global industry; what would give added value to this Venezuelan mineral”.

Cano emphasized that, despite the economic siege of the United States and the imperial aggressions, the CIAN Russia-Venezuela has opened a very positive mining front that will strengthen the Bolivarian Economic Agenda implemented by President Nicolás Maduro.

“Prospects for mining collaboration with Russia are focused on nickel, diamond and coal. The visit of the Russian company ТехЦветмет is one of the first steps that will allow us to expand the sphere of mining cooperation”, he said.

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