Foreign media: Venezuela reforms mining law to attract foreign investment.

On the 9th, Venezuela passed a mining reform bill that opens up the country's mineral resources to private and foreign capital. According to Reuters, the bill abolishes mining regulations introduced in 1999 and 2015, allowing domestic and foreign companies, as well as state-owned and private capital, to jointly exploit gold and "strategic minerals" within the country. Mining concessions can last up to 30 years and can be renewed. The bill also establishes a tax and regulatory framework: the government will levy a maximum of 13% in concession fees on the total value of mineral production, and a maximum of 6% in taxes on primary mining companies; gold sales will be centrally regulated by the central bank. The bill stipulates that mineral resources remain the property of the state and allows for independent arbitration of disputes.