"Venezuela’s National Assembly ‌approves mining law", 13 April 2026

...Venezuela’s National Assembly has passed a new mining law designed to attract foreign investment, particularly from the US...

This new framework replaces a nearly 30-year-old system and is part of Rodríguez’s broader strategy to enhance legal assurances and provide a more flexible tax structure for international investors...

Key provisions of the law include “economic equilibrium” clauses and access to international arbitration, shifting away from the 1999 requirement for local court dispute resolutions.

The legislation introduces a simplified tax scheme involving royalties of up to 13% of production and a mining tax of up to 6% on gross revenue, with exemptions from several existing levies.

Concession periods have been extended to a maximum of 30 years, with options for two ten-year renewals.

While the state maintains control over resources and project approvals, the reform aims to create a more investor-friendly environment without full liberalisation...