The Brisas Project, located in the prolific Kilometer 88 mining district of Venezuela

The Brisas Project, located in the prolific Kilometer 88 mining district of Venezuela, is one of the largest undeveloped gold and copper deposits in the world. Discovered by Gold Reserve in the early 1990s, the project contains an estimated 10.2 million ounces of gold and 1.4 billion pounds of copper. The company spent years exploring and developing the project, investing more than $300 million in infrastructure, permitting, and detailed engineering work.In 2014, the International Centre for Settlement of Investment Disputes (ICSID) awarded Gold Reserve more than $700 million in damages against the Venezuelan government. Following the award, Gold Reserve entered into settlement negotiations with the Venezuelan government, resulting in a settlement agreement in 2016. As part of the agreement, Venezuela agreed to pay the award in installments, and Gold Reserve regained certain rights to participate in the future development of the Brisas Project and other mining assets in the country.