Gold mining blocks wait for approval of Venezuelan Congress
A reform of the Law on Oil Windfall Revenues will be discussed by the Venezuelan Congress
Both plans will be submitted to the National Assembly for consideration.
Referring to the Law on Oil Windfall Revenues, Ramírez reminded that the reform seeks redistribution of oil tax rates and an increase in Pdvsa's US-dollar contributions to the central bank.
He added that the apportionment of mining areas Guasipati-El Callao, El Callao, and Sifontes Sur for gold development also awaits discussion at the National Assembly.
The minister noted that such blocks account for 81.44 million ounce of gold approximately.
"This action (Incorporating the blocks) will allow delimitation of the areas to boost oil production and prevent smuggling. It will also bring order in a sector that used to be in the hands of private enterprises, which traded in the stock market to obtain vast profit without developing the resources," Ramírez outlined.
Translated by Jhean Cabrera
A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.