Minin reform in the Rodrigato

The chavista-controlled National Assembly has passed the first reading of a sweeping new mining bill. In a move that has become a parliamentary staple, the Capriles-led faction abstained, arguing they were handed the 76-page document only minutes before the session began. The legislation signals that an industry long synonymous with environmental devastation and human rights tragedies is “open for business.” It revokes a Maduro-era law that required the Venezuelan State to hold a majority stake in all mining projects. According to a non-public version of the bill seen by Reuters, the law repeals old mining regulations, opens the door for domestic and foreign firms to exploit gold, diamonds, and rare earths, and extends concession terms from 20 to 30 years.

Meanwhile, independent journalists and NGOs are sounding the alarm over the “laundering” of the south. Current supply chain routes are specifically designed to circumvent international compliance. A recent investigation by the OCCRP, Armando.info, and other outlets revealed that $2.2 billion worth of Venezuelan gold was refined in Switzerland by Argor-Heraeus between 2012 and 2018, eventually finding its way into the products of tech giants like Apple, Tesla, and Nvidia.

Cristina Burelli of SOS Orinoco has called for a US policy that targets not just mineral extractors in Venezuela, but also their enablers: Delcy Rodríguez, front companies, and international refineries. Signs of illicit flows are still out there: as recently as February 28th, Colombian authorities in Puerto Carreño seized over six tons of tin (36 ingots) bound for China. According to a Colombian Army statement, the shipment originated from the Venezuelan side of the border.