Eike Batista Buys Ventana Gold Corp

by Cody J. Goul on March 11, 2011

Eike Batista billionaire business man and the wealthiest person in Brazil. One of seven children of a ranking Brazilian government functionary and a German mother, Eike Batista’s involvement in gold started early in his business career. At age 23 he began a trading company to buy and sell gold. When his profits began going down due to competition he purchased a “pick and shovel gold mine” and mechanized it. It was the first alluvial mechanized gold mine in the Amazon Jungle. Although he made many mistakes and miscalculations the mine was so rich according to Batista “it was idiot proof because it survived all my mistakes.”

Batista credits his parents for his success. He says that his father taught him to “think big.” However, Eike Batista’s father traveled a great deal while helping to supervise the construction of Brazil’s infrastructure – super ports, railways and roads. He is grateful to his mother who taught him discipline and compassion for other people.

An announcement on March 3, 2011 stated that Billionaire Eike Batista’s AUX Canada Acquisition company gained control of 91 percent of Ventana Gold Corporation. Batista already owned 17.6 percent of Ventana Gold that is in Vancouver, BC. His first offer to buy Ventana Gold was $12.63 per share. Stockholders sold 73.3 percent of the company stock to Eike Batista after he raised his take over bid to $13.06 per share.

Eike Batista’s Ventana owns La Bodega. It’s a mineral deposit 400 km northeast of Bogotá, Colombia that has resources approximated to include 3.5 million ounces of gold, 84.6 million ounces of copper and 19.2 million ounces of copper. Ventana is also developing a coal mining operation in the area.

Gold and silver prices are trading at near record highs and energy demand continues to increase.

In the energy field, Billionaire Eike Batista’s oil company OGX Petroleo & Gas Participacoes SA claims crude production will start in Colombia by 2012. OGX, has licenses for several pre-salt fields off the coast of Rio de Janeiro. OGX has headquarters in Rio de Janeiro. To date the company does not produce any oil. However, Batista is sure that Brazil will achieve status as a major oil producer. The billionaire claims that there are about 100 billion barrels of recoverable oil that will result in epic change for Brazil.

Batista also heads iron-ore mining company MMX Mineraceo e Matalicos SA.

Renewed interest in investing in Colombia is a result of Colombian President Juan Manuel Santos’ efforts to improve security in the country and weaken rebel militias including the Revolutionary Armed Forces of Colombia, known simply as FARC. This rebel leader Mono Jojoy killed by Colombian armed-forces last September.

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