Venezuela to Boost Steel Industry and Mining Output

Venezuela’s Acting President Delcy Rodriguez, Jan. 19, 2026.


January 20, 2026 Hour: 9:53 am

Acting President Rodriguez cites rising production in key sectors.

On Monday, Venezuela’s Acting President Delcy Rodriguez led a working meeting with officials linked to mining and basic industries to advance the recovery of the national steel complex, the reactivation of industrial plants and improvements in workers’ quality of life.

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“We are making an effort to restore economic stability,” Rodriguez said, stressing that “the goal is to generate foreign currency.”

During the meeting, she announced the reactivation of the Barquisimeto steel plant and said that the wealth that was previously appropriated by the oligarchy now belongs to the people.

“Our natural resources are ours and are for the well-being of the Venezuelan people,” she said, emphasizing that the country has the resources to produce with sovereignty and to reactivate its industries.

Rodriguez confirmed that gold production in the public sector rose 81% in 2025 and is projected to increase by 30% in 2026. In the last quarter of 2025, iron ore exports were the highest in the past decade, and they are expected to grow by 50% this year. Coal production increased by 260% in 2025 and is expected to rise by 100% in 2026.

Ecological Mining Minister Hector Silva reported on progress in reactivating the steel complex and on achievements in the mining sector, including increased gold production.

He also provided details on actions to ensure aluminum production, including the transport of materials, dredging the river to extract bauxite, and the delivery of 60 cargo trucks to strengthen mining logistics.

As part of the Ciudad Obrera program, 90 homes were delivered in Bolivar state. Their construction used domestically produced materials.

“We are consolidating major social programs,” Venezuela’s Acting President said, reaffirming her administration’s commitment to “preserving peace, economic growth and social justice.”

teleSUR/ JF

Source: VTV