During a virtual meeting of legal and governance specialists, the creation of the National Mining Management and Administration Agency (ANGAM) was proposed, along with a new Mining Law to resolve the current anarchy in the industry.

Participants in this meeting, coordinated by engineer Elías Matta, included lawyer Martha Acosta, a specialist in Mining Law; lawyer Verónica Barboza from George Washington University, with a Master’s degree in Strategy and Governance; and others.

One of the main aspects of this forum was the proposal to create ANGAM “as an autonomous institute” responsible for “managing and administering mining rights, coordinating the Public Mining Registry and the National Mining Cadastre, and clearly separating the regulatory (Agency) and oversight (Ministry) functions, eliminating the current conflict of interest and discretionary power.”

The speakers agreed that “the Venezuelan mining model must shift from a one-off contractual approach to a systemic model that involves a profound transformation of public policy.” Barboza emphasized the need to apply “international standards such as ESG (Environmental, Social, and Governance) and UNFC 2019.”

The experts addressed other aspects to consider, such as legal security and regional competitiveness, sustainability and combating illegal activity, and the economic potential of mining for the country. All these issues, carefully managed, could generate between $6 billion and $10 billion in revenue to boost the country’s development.

M.Pino

Source: elimpulso

(Reference image source: Jonny Caspari on Unsplash)

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