US EditionVenezuelan lawmakers open debate on a mining bill to lure foreign capital
The new law extends mining concessions to 30 years, allows international dispute arbitration, and aims to boost foreign investment to reactivate Venezuela’s mineral production.
- Venezuela's National Assembly approved a mining law to allow foreign and domestic companies to exploit gold, diamonds, and rare earths, increasing concessions from 20 to 30 years.
- The law creates new tax calculations for mining projects, allows for international arbitration of disputes, and bans high-ranking officials from holding mining titles.
35 Articles
35 Articles
Caracas. Venezuela’s parliament approved yesterday in first discussion a new mining law, the most recent proposed in the framework of a package of changes backed by the United States aimed at opening the economy to foreign private investment in oil and minerals. A draft of the law not yet published, repeals a regulation law on the subject of 1999 and another on gold, of 2015, and allows foreign and national firms to exploit gold ore, diamonds an…
Venezuela moves to open mining sector to foreign investment
Venezuela's National Assembly approved in a first debate a new mining bill aimed at attracting foreign capital and offering stronger legal guarantees for the exploitation of the country's mineral resources.
Venezuela’s Parliament Progressed in Passing a Mining Law Favoring the United States · Global Voices
The project seeks to increase legal guarantees to generate confidence and attract investment.Days ago, the United States authorized certain activities related to the exploitation of Venezuelan gold by United States companies.
The National Assembly of Venezuela endorsed on Monday a first vote in favour of the revision of the mining code aimed at attracting foreign capital, a few days after the announcement of the restoration of diplomatic relations between Washington and Caracas.
Venezuela: it's not just oil, the US is also taking gold and minerals
On 4 March, US Secretary of the Interior Doug Burgum visited Venezuela. The reason for the visit? Burgum, in addition to being Secretary of the Interior, heads the brand-new National Energy Dominance Council, a council created by Trump with the aim of ensuring “that the United States is the dominant country in energy matters.”
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