Venezuela’s economic development is progressing steadily. According to economist Avilio Lavarca, deposits of strategic minerals, such as iron and bauxite, can contribute to this process.

Lavarca recently indicated that “Venezuela possesses more than 48 minerals to boost the country’s economic development, thanks to a study conducted by the Ministry of Ecological Mining Development.”

He insisted that these minerals are key to the sector’s development and added: “In Venezuela, we have been seeing great progress in mining, which unlocks great potential for our country.”

The economist pointed out that the South American country possesses almost all the minerals on the periodic table; These sectors have already been identified, as well as the number of deposits in the territory, which are strategic for the nation’s development.

M.Pino

Source: notitarde

(Reference image source: omid roshan on Unsplash)

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During a meeting held on Monday, January 19, with the “Mining and Basic Industries Engine,” Venezuela’s interim president, Delcy Rodríguez, announced a plan aimed at increasing gold production.

The official referred to mining as an “important pillar in the growth of the Gross Domestic Product (GDP).” The plan would also be geared towards increasing the production of “iron, bauxite, and other strategic minerals for Venezuela’s industrial development and for generating foreign exchange for the country.”

At the meeting, the acting president highlighted Venezuela’s “joint effort and coordinated work to achieve economic recovery and stability.”

Rodríguez stated that this support for the mining sector is part of a comprehensive strategy for diversifying the economy by “strengthening the production of strategic minerals that contribute to the country’s industrial development and financial stability.”

M.Pino

Source: notitarde

(Reference image source: Jingming Pan on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Venezuela to launch a plan to increase gold and other strategic mineral production apareció primero en Bitfinance.