National Executive authorizes the exploitation of a bauxite deposit by the CVG

Published at: 13/03/2024 05:18 PM

The President of the Republic, Nicolás Maduro, authorized the request by the state company Bauxilum to exploit a bauxite deposit in the state of Bolívar that would allow basic State companies to increase aluminum production.

During the inauguration of Expo Metal 2024: Iron, Steel and Aluminum, which will take place until Saturday, March 16 at the headquarters of the Ferrominera Orinoco company, the head of state signed the agreement on the right to exploit a bauxite deposit that will increase the wealth of the CVG and Venezuela”.

In this regard, the president of the supervisory board of the CVG, Héctor Silva, announced the discovery of a new deposit in the municipality of Piar, specifically in Upata, whose exploitation will increase aluminum production.

“All the aluminum equipment focused on this and the idea is that the mining right can be granted to the company Bauxilum, a company that exploits bauxite and - where - high quality aluminum is born and we are sure that it will continue to position our domestic products in the international market,” said Silva.

CVG Bauxilum produces alumina from the use of bauxite to supply aluminum reduction plants and export the production surplus.

Mazo News Team