Venezuela's Mining Chamber (Camiven) urges National Executive to accede to wider and more frequent dialogue

VHeadline Venezuela News reports: Venezuela's Mining Chamber (Camiven) is urging the government's National Executive to accede to more comprehensive and more frequent dialogue with the mining sector towards a consensus on solutions to improve the sector's development and growth and to establish a central mining policy that is sustainable over time under a plan to open up the mining industry and to facilitate essential national and foreign private investment.

The XVI General Assembly of the Venezuelan Federation of Chambers of Commerce & Industry (Fedecamaras), held recently in Maracaibo, Zulia Stare, concluded that the mining industry is not just necessary ... it is essential .

Camiven: "A mining policy is inescapably necessary to ensures the responsible use of resources ... to promote its potential by facilitating development with fair assessment of taxes and royalties, so that mining can continue to improve and as a larger production source to become an important socio-economic factor for Venezuela that necessarily must involve the smooth and efficient development of mining projects and to provide legal security for fairness and transparency to those who are prepared to stimulate investment."

"The industry insists that current Mining legislation provides sufficient tools for the National Executive to develop program for any scale of mining. The existing legislation already provides for development of specific projects under the concept of joint ventures without compulsory state majority participation ... it also provides for state control on matters of national interest even with a minority equity stake, establishing approval even under under a qualified majority stake.

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