Caracas, 21 Sep. AVN .- The implementation of the legal rules that reserve the Venezuelan exploration and gold mining and related activities will obtain the necessary resources to support the development of the mining sector.

The Minister of People's Power for Basic Industries and Mining, José Khan, said the legal framework provides for the government to take control of the industry and form joint ventures, which have a majority 55% of the capital.

"We're going to give an exploration license if it is a strategic partnership where the state has a majority shareholding," he said.

Similarly, the legislation passed in the context of enabling, argues that the big miners were set a royalty payment of 13%, while small miners who were granted incentives to migrate to the status of companies Mixed-only must pay 3%.

In this regard, the Minister Khan said that this measure will ensure the raising of capital by the state, which may be used in investment for exploration of new areas of operation, plant breeding and working conditions of workers.

Order for the mining sector

For his part, Luis Alberto Matos economist, describes as "necessary" with the rank order value and force of law, published in the Official Gazette 39,759, circulated on Monday.

"Enactment of this law was necessary because the large deposits of Venezuela are located in the border area of ​​Bolivar state, and national government should act and impose order, against the illegal extraction of ore, carried out a group of transnational companies, "he said.

The economist held that in establishing the rules that companies or individuals engaged in illegal logging without complying with the formalities, shall be punishable with imprisonment from 6 months to 6 years.

"You must stop all unscrupulous companies that benefit from an illegal sale of our gold, these resources must nourish and strengthen Central Bank reserves to be exploited for the development of the nation," he said.

For Matos, another key point that the instrument was introduced in respect to the environment, as companies authorized to perform the primary activities must employ best practices and techniques that seek rational extraction of mineral.

"The executive will now have the power to verify that the exploration and transport are conducted in an appropriate manner to avoid environmental disasters, particularly in river systems, which are necessary for human consumption and hydroelectric power generation "he said.