One of Venezuela’s many unpaid creditors won’t pursue the country’s prized U.S. refining subsidiary Citgo Petroleum Corp. under a settlement that requires the country to come up with $1.3 billion at a time of deepening economic crisis, WSJ Pro Bankruptcy reported. Venezuela will make the payment to Canada’s Rusoro Mining Ltd. as compensation for the government’s nationalization of private gold mining interests in 2011, Rusoro said Thursday. The company said that it would make certain mining data available to Venezuela in exchange and assess whether they could partner again to revive two stalled gold projects. Rusoro also agreed under the deal to drop legal action against state-owned oil producer Petroleos de Venezuela SA and its Citgo unit, which owns a valuable network of pipelines and refineries scattered through the U.S.
