Venezuela and Cuba set up a mining joint venture company that will function within the ALBA trade and integration agreement, according to a decree published Wednesday by Venezuela’s Gaceta Oficial.

Mineralba is 50.5-percent owned by Venezuelan state company CVG Compañía General de Minería de Venezuela; 49.5 of the shares are held by Geominera SA, a subsidiary of the Cuban Basic Industries Ministry. Mineralba, based in Puerto Ordaz, Venezuela, will provide ALBA member nations with exploration, geological research, production, processing and distribution of minerals.

Venezuela and Cuba aside, ALBA includes Bolivia, Nicaragua, Ecuador, St. Vincent and Grenadines, Antigua & Barbuda, and Dominica.