Venezuela Passes New Mining Law to Attract U.S. and Foreign Investment

Venezuela’s National Assembly on Thursday passed a new mining law, opening its doors to private entrepreneurship as the nation’s socialist regime seeks to attract U.S. and other foreign investment after decades of socialist restrictions.

Bloomberg Línea reports that the Venezuelan parliament, controlled by the ruling United Socialist Party of Venezuela (PSUV), unanimously voted to approve the new 131-article legislation that substitutes Venezuela’s nearly three decade-old and notoriously restrictive mining legal framework.

The new law is reportedly described to be part of “acting President” Delcy Rodríguez’s efforts to offer “legal guarantees…

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