Venezuela’s Mining Law Sparks Global Interest Amid US Policy Shift
Venezuela’s National Assembly has advanced a new mining law aimed at opening the country’s mineral sector to private and international investors. The draft law, approved in March 2026, signals a rare policy shift as the government seeks foreign capital despite ongoing sanctions. Acting President Delcy Rodriguez has championed these reforms since taking office in January 2026.
The US has shown unexpected support for Rodriguez’s economic agenda. Secretary of the Interior Doug Burgum visited Caracas ahead of the mining bill’s initial vote, endorsing Venezuela’s legislative push and discussing opportunities for foreign firms. Shortly after, the US issued a special license allowing certain gold transactions with Venezuela’s state-controlled miner, Minerven.
