Gold Reserve to return to mining operations in Venezuela

March 5 (Reuters) - Gold Reserve GRZ.V said on Thursday it plans to resume mining in Venezuela, marking a return to the country nearly 17 years after the Venezuelan government seized control of the company's Brisas gold mine.

Last month, the company had hired brokerage Cantor Fitzgerald's Canadian arm to raise up to $50.3 million through a private placement of common shares, as it intends to rebuild its investor base and return to operations in the South American country.

The company operated the Brisas gold mine until 2009.

U.S. Interior Secretary Doug Burgum on Wednesday led a mining delegation, which included the company's representatives, and met Venezuelan acting President Delcy Rodriguez, to enable foreign investment and support the resumption of mining operations.

The Office of Foreign Assets Control has also granted Gold Reserve a 30-day license to negotiate with Venezuela.