Citgo’s Future Ensnared In International Feud Over Venezuela’s Debts


When the late Hugo Chavez nationalized Venezuela’s gold mining industry eight years ago, it was hard to see how the impact of that decision could one day ricochet to Houston.

Yet that is exactly what could happen as a now defunct Canadian mining company, Crystallex International, seeks to recoup its losses stemming from the gold mine’s expropriation in 2011. The company is trying to collect a $1.4 billion award it won through a World Bank arbitration court in 2016.