Venezuelan Steel Company to Operate at 100% Capacity Soon: President Maduro
Venezuelan President Nicolas Maduro (C) visits La Yaguara steel complex, Oct. 2, 2024.
October 3, 2024 Hour: 7:55 am
Let’s us move forward in harmony with nature and Indigenous peoples towards comprehensive mining development, he said.
On Wednesday, Venezuelan President Nicolas Maduro granted the exclusive right for the state-owned Venezuelan Mining Corporation (CVM) to carry out “exploration and exploitation activities” of the mineral cassiterite and its associated elements in an area of the Orinoco Mining Arc (AMO).
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“Mining rights approved. Let us move forward in harmony with nature and Indigenous peoples towards our country’s comprehensive mining development,” Maduro said during an inspection of the national steel complex.
The Bolivarian leader announced that the National Steel Company would soon be operating at 100 precent of its capacity, which would contribute to the consolidation of Venezuela’s economy.
“We will deliver because we are building a new productive model. The model of productive socialism for a real economy that grows, moves forward, and strengthens,” Maduro asserted.
CVM President Jose Moreno explained that the mining project is mainly focused on tin extraction, which is used in alloys to create soldering materials and ceramic pigments, among other things. He also mentioned that Venezuela has exported 833 tons of cassiterite so far this year.
The AMO is located between the Amazonian states of Delta Amacuro, Bolivar, and Amazonas, where 36 protected natural areas are also found. This mining zone holds large reserves of gold, coltan, diamonds, iron, bauxite, and other minerals.
In June, Maduro stated that Venezuela must organize mining through productive and ecological policies. This goal will allow for controlling informal mining and destructive practices in that sector.
teleSUR/ JF Sources: EFE – Correo del Orinoco
