Venezuela's interim President Delcy Rodriguez said she will submit to the National Assembly a reform to the country's mining law in the coming days, Reuters reported on March 4. The mining reform will reportedly mirror Venezuela's Jan. 29 oil reform, which reduced the role of the state in the sector and opened it to private investment.

Rodriguez said her government would move at "Trump speed" to help unlock Venezuela's mining potential. The statements came after Rodriguez and Venezuela's Interior Minister Diosdado Cabello met with U.S. Interior Secretary Doug Burgum and dozens of U.S. mining executives and metals traders in Caracas. Venezuela's mineral resources include coal, gold, diamonds and critical minerals, such as bauxite, copper and coltan. The latter is a metallic ore that can be refined to extract tantalum and niobium.