Here is an old article from Sept 26, 2008 with this environmental consultant Beatriz Olivo talking about the gold sector and law.

CARACAS
Petroleumworld. com.ve, 26 09 2008

Representatives of the mining sector said they do not know all the
provisions including the Bill of Mines at the lack of information
that must by the government. Beatriz Olivo, vice president of the
Venezuelan Mining Chamber (Camiva), said that the organization is not
taken into account to participate in drafting the legal instrument.

He assured that the reasons given by the Ministry of Basic Industries
and Mining (Mibam) about the creation of a regulation that gives the
State sovereignty over resources is not a valid argument, then
indicated that the current rules already conferred that right.

He explained that among the few aspects that left knowing the Mibam
and are covered under the proposal is that the central government is
one that can make operating activities of non-metallic
minerals. "This activity is not currently under the Ministry of Mines
but the governorate of each state. With the implementation of this
new law regions will no longer have that right."

The delivery of exploitation concessions only to joint ventures where
the state has a majority shareholding is another point that sets the
regulations in force. "That is why we insist that there is no need to
create new legislation to include these approaches. That is applied
to oil exploration, mining in the area because the investments are
high risk. We have to exploit the first and investing millions to
determine whether is feasible and that is why investors are not
interested in that activity. "

He noted that the existing legal instrument can be considered as it
was recently approved during this period of government in 1999, under
the Enabling Act that was granted to President Chavez.

The organization found that joint ventures have no experience in
mining, unlike those formed with less state participation, which was
formed on the basis of such activity.

"It is incomprehensible that arise that the mixed format is the only
way to involve the private sector in mining and quarrying and fewer
resources means when it says that the company would have to be with a
majority of the state capital, which would make it SOEs or State. We
think that you can get the tests they want even with a minority
equity stake. "

No investment

He explained that current projects which are kept in the hands of the
government operate in a "poor" by multiple reasons such as lack of
investment and lack of advanced technology. He indicated that
companies that hold a majority shareholding of the state-of-its
apparently going through a crisis that is evident in the decline in
production of metallic minerals.

"The state wants to take on any mining activity but does not have the
capacity and is acting as currently produces no good results. There's
no greater exploration for mineral reserves found."

Lower production

According to a report of Camiva, the production of metallic minerals
in 2007 dropped 14 percent relative to 2006. As for the non-metallic
and industrial minerals there was a recovery of nearly seven per cent
that was not enough to reach the averages of previous productions. In
2007 highlighted the following minerals: Bauxite 5.3 MTM (-12.53%);
Alumina 1.7 MTM (-14.13%). According to the projections of the House,
by the end of 2008 the activity will face a drop of 10 percent.