Caracas, April 10, 2026 – The Europe Today: Venezuela’s National Assembly has unanimously approved a sweeping new law aimed at opening the country’s tightly regulated mining sector to foreign and private investors, marking a significant economic policy shift under interim President Delcy Rodríguez.
The legislation, which now awaits final approval and signature by the president, seeks to expand the participation of international and private companies in the extraction and development of Venezuela’s vast mineral resources. The move is part of broader efforts to modernize the country’s resource sector and revive economic growth.
Lawmakers said the reform focuses on unlocking the potential of Venezuela’s substantial gold reserves while also permitting foreign investment in other key minerals, including rare earth elements, bauxite, iron, coal, copper, nickel, and coltan. The overhaul is expected to help integrate the country’s mineral wealth into global markets and diversify national revenue streams beyond its traditional reliance on oil exports.
The new framework introduces measures to regulate mining activities, define operational categories, and provide legal protections for investors, including arbitration mechanisms—seen as crucial to building investor confidence in the sector.
The mining reform follows a series of major economic changes introduced by the transitional government in recent months, including earlier amendments to the hydrocarbons law designed to attract foreign participation in Venezuela’s oil industry.
These reforms come in the wake of significant political developments earlier this year, including the removal of former president Nicolás Maduro and subsequent efforts by the current administration to reposition Venezuela as an investment-friendly destination for global energy and mining companies.
