US Seizes Venezuelan Gold and Rare Earths Amidst Criticism
Venezuela’s National Assembly has initiated a new mining law, allowing foreign and domestic companies to extract gold, diamonds, and rare earth elements. This legislation, extending concessions to 30 years and permitting international arbitration, follows a U.S. delegation visit and a U.S. license authorizing gold transactions with the state miner Minerven. The mineral-rich Orinoco Mining Arc, targeted for investment, has historically been controlled by illicit groups, leading to documented human rights abuses and environmental devastation.
John Q. Hosedrinker