Venezuela Passes Mining Bill to Attract Foreign and Private Investment, Easing US Restrictions

Published: Apr 10, 2026 21:56

Save

Venezuela's ruling party-controlled National Assembly on Thursday approved a mining bill expected to open the sector to private and overseas investment, after the US eased restrictions on the country to stimulate external capital investment in its struggling economy.The bill repealed the 1999 and 2015 mining regulations, allowing domestic, overseas, and state-owned and private companies or consortia to mine gold and "strategic minerals." The maximum term for concessions is 30 years, but can be extended by up to two 10-year periods.Under the bill, mineral resources remain state property, disputes can be resolved through arbitration, and a royalty tax of 13% of the total value of minerals is levie.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

8 mins ago

Copper Price Pullback Spurs Surge in Price-Fixing Orders, End-User Wait-and-See Stance Depresses Operating Flexibility

8 mins ago

10 mins ago

Bunker Hill Ships First Ore as Idaho Mine Rebuild Reaches Key Milestone

Bunker Hill Mining has announced the shipment of the first ore from its rebuilt Bunker Hill mine in Idaho, marking a major milestone in the project's restart. The company said mining and processing activities will be ramped up progressively, with the concentrator expected to reach its nameplate capacity in 2027. Bunker Hill is a historic polymetallic mine producing primarily silver, lead and zinc, with associated copper mineralization. The restart will strengthen North America's critical minerals supply chain by adding new production capacity as the operation ramps up.

10 mins ago

15 mins ago

Shandong Humon Smelting Co., Ltd. Makes a Brilliant Appearance at SME 2026 Shanghai Metal Week

15 mins ago