National Assembly approves Organic Mining Law

Published at: 09/04/2026 05:21 PM

The National Assembly (AN) moved forward this Thursday with the approval of the 135 articles and seven special provisions of the Mining Bill, including royalties and taxes that open up the sector to private and foreign investment.

This legal instrument was designed to modernize, regulate and enhance mining activity throughout the national territory, as well as to promote the economic and sovereign development of the Republic.

This Organic Mining Bill establishes that Venezuelan soil resources are used for the welfare of the People's Power.

Exempt taxes for mining activities include the tax on large assets and special contributions to funds related to science, sports, anti-drugs, as well as the contribution established in the Social Security Pension Protection Act.

The Act establishes rules for concessions that will last 30 years, and may be extended for two consecutive periods of up to 10 years, as well as contracts for mining, the registration of the sector, and the scales of the activity, identified as “Small, Medium and Large Mining”.

Mazo News Team