Venezuela’s basic industries and mining ministry (MIBAM) plans to withdraw the Las Cristinas mining concession from Crystallex International and will pass control of its operations to Rusoro Mining, BNamericas reports it has been told by a ministry official. The government’s decision, BNamericas says, also includes withdrawing the Brisas concession from Gold Reserve and the La Camorra and Isidora projects from Hecla.

Rusoro had already launched an all-stock takeover bid for Gold Reserve. “A business combination between Rusoro and Gold Reserve creates the premier Venezuelan gold company and allows us to use our extensive in-country experience to unlock the inherent value of the Brisas project for the benefit of all,” Rusoro CEO Andre Agapov said in a statement.Gold Reserve has been waiting on environmental approval by Venezuelan authorities for its Brisas gold-copper project. In April Venezuela’s environment ministry rescinded Gold Reserve’s March 2007 construction permit.