Venezuela, Turkey sign agreements for gold extraction, petrochemical projects


(MENAFN) Venezuelan President Nicolas Maduro inked a significant agreement with Turkey on Friday, focusing on the extraction of Gold in a region in the southern part of Venezuela known for widespread illegal mineral extraction activities. Maduro emphasized that Turkey's investments are aimed at fostering the development of gold mining in the Orinoco region, which spans approximately 112,000 square kilometers and is abundant in gold, iron, and coltan. This area has been a hotspot for unauthorized exploration activities.

Maduro expressed his commitment to developing these gold mines in a responsible manner, highlighting the importance of setting an example of environmentally sensitive development that prioritizes nature preservation. Environmentalists have long condemned the ecological devastation caused by illegal mining in this region, including water pollution and deforestation.

In addition to the gold extraction agreement, the Venezuelan government signed two more agreements with Ankara. One involves the construction of a refinery for ammonia production, while the other focuses on gas exploration. These projects are seen as vital for Venezuela's future economic growth and development.

With presidential elections scheduled for July 28, Maduro has been increasing his public appearances, emphasizing the importance of these agreements as major future projects in the fields of petrochemicals, gas, and gold. He believes that the alliance between Turkey and Venezuela will be mutually beneficial for both countries.

Turkish President Recep Tayyip Erdogan is expected to visit Venezuela later this year, though an official date has not yet been announced. Erdogan's previous visit to Caracas in December 2018 reaffirmed Turkey's support for Maduro amidst international criticism of his re-election, which was marred by allegations of fraud. 

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