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Mining Reform Advances in Venezuela
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Venezuela’s parliament approved in first discussion a new mining law, in the most recent proposal of a package of U.S.-backed changes aimed at opening the economy to foreign investment in oil and minerals. U.S. President Donald Trump’s administration has supported a series of measures by President-in-Charge Delcy Rodríguez to attract investors and stabilize the country from the January U.S. raid that captured President Nicolás Maduro. Trump has …
The National Assembly approved the Organic Law of Mines in its first reading on Monday, March 9, a key step in transforming Venezuela's mining sector. This legislation proposes adjusting the tax regime and royalties based on the productivity of deposits, with particular attention to mature or marginal wells, to incentivize investment in currently unprofitable areas. The legal document aims to simplify the tax system for investors, seeking to tra…
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