Venezuela and US Discuss Cooperation on Mining Sector Development

Caracas.  Venezuela's interim President Delcy Rodriguez and US Interior Secretary Doug Bergam have stated that the two countries will cooperate for the development of Venezuela's mining sector. Bergam met with Rodriguez at the presidential palace in the capital, Caracas. This is the second visit by a US minister to Venezuela since former President Nicolas Maduro was arrested following US action in January.

Rodriguez stated that the government is preparing to bring reforms to mining-related laws soon. This is aimed at attracting foreign investment. Venezuela has previously changed laws to allow more foreign investment in the nationalized oil sector. Now, similar reforms are planned for the mining sector.

Venezuela is one of the countries with the world's largest proven oil reserves, and it also has abundant gold, diamonds, and rare minerals used in mobile phones and electric vehicles. Representatives from more than two dozen American mining and mineral companies also participated in the meeting with US representatives, which is expected to create billions of dollars in investment and thousands of jobs.