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 simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.