The Venezuelan government has paid $500 million of the $1.2 billion it owes to Canadian mining company Crystallex International Inc. under a settlement following an arbitration award over lost mineral rights, according to court papers.

Crystallex said in a court filing  that Venezuela completed an up-front payment of $425 million Nov. 23 on top of $75 million paid earlier, and plans to satisfy the rest of judgment by Jan. 10.