The New Age of Mining in Venezuela (Law 2026).

On 9 April 2026 the National Assembly unanimously sanctioned the new Organic Mines Actwhich replaces the previous statistical model with a framework of openness and legal certainty for international capital. Its formal entry into force will occur with the publication in the Official Gazette, which is expected imminently.

What do you have to know?

• The exploitation of minerals (including gold) by domestic and foreign private companies is permitted through concessions of 30 years, which can be extended for up to 20 additional years.
• International arbitration is introduced as a legal mechanism for resolving disputes with the Venezuelan State.
• A royalty of up to 13% of the commercial value of the mineral is fixed, payable in money or in kind with the physical ore.
• The Mining Brigades and the Digital Mining RIF are created to legalize artisanal activity.
• Public officials and their families are prohibited from participating in the sector for up to 5 years after they leave office.

What is the reform looking for?

First, the Act introduces profound changes in the way the State relates to private operators, through a formal system of concessions and licences with clear rules and international protection. Thus, the primary objective is attracting foreign direct investment through a modern framework of legal security and private participation, in the environment of an activity that has been characterized by expropriations and disputes in international courts.

Under this premise, Venezuela aims to become a strategic supplier in the supply of rare and coltan land for the global technological market, consolidating itself as a competitive destination for foreign investment

From this moment on:

1. The existing individuals and companies have a period of one (1) year to be in line with the new framework.
2. The National Assembly has 180 days to issue and approve the regulations of the Act.