Venezuelan legislature passes mining reform bill in a first reading

2026-03-16 15:43:08

On the 9th local time, Venezuela’s National Assembly (Congress) approved a bill on mining reform in a first reading. The bill was proposed by Acting President Rodriguez. The main goal of the reform is to strengthen the functions of the Ministry of Mining and establish a more trustworthy legal framework for private capital. Congressman Orlando Camacho stated that the bill aims to protect and promote both domestic and foreign investment by enhancing legal protections. According to the bill, Venezuela will establish a “Mining Data Bank,” which, inspired by the oil and gas law, will centrally manage geological structures and land information suitable for mineral development. Additionally, the institutional framework will be reinforced, including the creation of a National Mining Supervision Authority and a Mining Social Fund, which will be dedicated to safeguarding the rights of mining workers. (CCTV News)

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