MercoPress. South Atlantic News Agency

Delcy Rodríguez promete subir 30% la producción de oro para captar divisas

International organizations and rights groups have repeatedly flagged serious abuses connected to gold mining in Venezuela’s south, including the role of armed groups

Venezuela’s interim president Delcy Rodríguez said her administration aims to raise gold production by 30% in 2026 to generate additional foreign-currency revenues, as the government seeks to shore up public finances and draw fresh investment into the mining sector, according to reports attributed to EFE.

Rodríguez said Venezuela produced 9.5 tonnes of gold in 2025 and plans to exceed that figure this year. Speaking at a government event, she argued that gold revenues help sustain external obligations and fund public programs, while acknowledging—implicitly through limited detail—the longstanding lack of transparency around the sector.

Her remarks came alongside signals of a regulatory push. Rodríguez said the National Assembly is preparing a new mining and minerals law designed to attract “significant international investment flows,” and she also pointed to plans to expand output of iron and coal.

Sanctions, licenses and the gold trade

Venezuela’s gold industry has been targeted by U.S. sanctions, including measures linked to state miner Minerven and gold-related transactions. In October 2023, Washington issued temporary sanctions relief—including authorizations tied to Minerven—after an electoral roadmap agreement between Nicolás Maduro’s government and the opposition.

In 2024, the U.S. rolled back part of that relief, including the Minerven component, after disputes over the electoral process, AP reported.

International organizations and rights groups have repeatedly flagged serious abuses connected to gold mining in Venezuela’s south, including the role of armed groups and exploitation in and around illegal mines. Human Rights Watch has documented violence and abuses in Bolívar state, while the International Crisis Group has described gold mining as central to conflict dynamics and informal governance in the region.

The government argues higher output and new rules will expand revenues and formalize the sector. There's an absence of public audits on production volumes, sales channels and environmental impact.