Story perspectives

Venezuela Approves New Mining Law to Boost Investment

3/10/2026

Summary

Story summary

On March 9, 2026, Venezuela's National Assembly approved a mining law to attract private and foreign investment.
The law repeals a 1999 regulation and allows exploitation of gold, diamonds, and rare earths for up to 30 years.
Mineral deposits remain state property, and disputes will be resolved through international arbitration.
U.S. Interior Secretary Doug Burgum expressed optimism about opportunities.
Venezuela's economy has faced challenges from past nationalizations and ongoing sanctions.

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Story summary

On March 9, 2026, Venezuela's National Assembly approved a mining law to attract private and foreign investment.
The law repeals a 1999 regulation and allows exploitation of gold, diamonds, and rare earths for up to 30 years.
Mineral deposits remain state property, and disputes will be resolved through international arbitration.
U.S. Interior Secretary Doug Burgum expressed optimism about opportunities.
Venezuela's economy has faced challenges from past nationalizations and ongoing sanctions.