Venezuela established with Russia lines of research and mining investment

The Minister of People’s Power for Ecological Mining Development, Víctor Cano, said Wednesday that Russia and Venezuela agreed to open financial, scientific and technological exchanges in order to boost the national economy through the development of strategic Mining Engine projects.

In his Twitter account, the minister published a photograph of the meeting with Deputy Director of the Russian Natural Resources Agency, Sergey Aksenov, as part of the work agenda led by the ministerial delegation accompanying the President of the Republic, Nicolás Maduro, on his tour through Russia, Belarus and Turkey.

Cano said that: «Lines of work in research and investment in mining under the Russia-Venezuela relationship» were established for the future of cooperation between the two countries.

These mining alliances, defined in the middle of the Russian Energy Week 2017, play a fundamental role in boosting the production of metallic and non-metallic mining in Venezuela; especially in the construction of the New Tax Regime for the Sovereign Development of the Orinoco Mining Arc, proposed within the Constituent Assembly.

The objective is to advance responsible mining with the environment and with the people, in order to strengthen the productive matrix of the Venezuelan economy. The first years of the development project of the mining sector’s production chain and related activities require national and international investment for planning, scientific research, exploration, certification, installation of plants and design of a rational mining model.

Thus, the Venezuelan commitment is to strengthen strategic and responsible economic relations to leverage new foreign investments within the country, in order to protect the people from the financial blockade imposed by the United States Government.