The Venezuelan legislative body passed a mining reform-related bill in the first reading.

On the 9th local time, the National Assembly of Venezuela passed on the first reading a bill on mining reform, proposed by the Acting President of Venezuela. It is understood that the main purpose of this reform bill is to strengthen the functions of the Venezuelan Ministry of Mining and establish a more trusted legal framework for private capital. Congressman Orlando Camacho stated that the aim of this bill is to protect and promote domestic and foreign investment by strengthening legal safeguards. According to the bill, Venezuela will establish a "mining data bank", which will follow the model of the oil and gas law and centralize the management of Venezuela's geological structure and information on land suitable for mineral development. Additionally, the institutional framework will be strengthened in this bill, including the establishment of a National Mining Supervision and Management Agency and a Mining Social Fund, which will be specifically used to protect the rights of mining industry workers.