#Venezuela Approves New #Law to Open #Mining to Foreign Investors
The move opens the country’s coveted #mineral fortune up to foreign investors, in the latest move that Venezuela’s leadership has taken to satisfy the #Trump admin.
#geopolitics #MafiaState #sovereignty
https://www.nytimes.com/2026/04/09/world/americas/venezuela-mining-us.html?smid=nytcore-ios-share
The Venezuelan National Assembly on Thursday approved a new #law purportedly to modernize the country’s decrepit #mining industry & lure private companies to excavate #Venezuela’s untapped riches of #gold & critical #minerals.
The sweeping changes, in a #Socialist-led country that had long exerted state control over its mines, are the latest example of the Venezuelan government’s compliance with the #Trump admin since the #US “captured” the country’s leader, Nicolás #Maduro, in Jan.
The Venezuelan Legislature, controlled by #Maduro’s ruling #Socialist Party, passed the new #law one month after the #US #interior secy, #DougBurgum, brought dozens of US #mining executives to meet with the country’s acting president, #DelcyRodríguez. Both officials vowed to open #Venezuela’s coveted deposits to US investment.
The proposal passed by a unanimous vote. The measure next goes to Rodríguez for final approval.
#Venezuela sits on a #mineral fortune that remains largely untapped. The country is believed to have one of the largest #gold reserves in the world. It is also thought to hold a wealth of #RareEarths & vast reserves of bauxite, iron, coal, copper, nickel & coltan, a black ore used in the manufacturing of such items as smartphones & satellites.
Nonilex
HarriettMB