Business Standard
Venezuelan lawmakers on Thursday approved a bill to regulate the country's mining as it seeks to attract leery foreign investors to a once-private industry that has long been exploited by criminal groups with ties to the government. It is the latest legislative initiative by acting President Delcy Rodriguez since the self-proclaimed socialist government that has ruled Venezuela for 26 years came under pressure from the Trump administration in January, when the U.S. military deposed then-President Nicolas Maduro. The lengthy bill will now undergo a review by the country's high court to determine if it is constitutional. The bill regulates mineral rights, establishes small, medium and large-scale mining categories, and allows for independent arbitration of disputes, which foreign investors view as key to guard against the government seizing their assets. It also bans the president, vice president, ministers, governors and others from holding mining titles. The bill is a "vehicle for
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