Gold Reserve Inc., the Spokane-based mine-exploration company, has increased to $2.1 billion the amount it's seeking in losses and damages from the Venezuelan government in a dispute over its former Brisas gold and copper mine project in the South American country.

The company previously had been seeking $1.9 billion, and the new figure includes an update in interest calculations, effective June 30, the company said in a July 29 press release.

Gold Reserve currently is in arbitration with Venezuela over the company's claims of wrongful conduct. Venezuela reversed regulatory approval of Gold Reserve's Brisas project in fall of 2009 and seized the asset, after the Spokane company had invested nearly $300 million in the property.

A final hearing on the arbitration is scheduled to start Feb. 6, 2012, in Washington, D.C.

Doug Belanger, CEO of Gold Reserve, says in the release the company remains willing to settle the case.