Since 2016, gold production and trade has been booming in Venezuela. Two reports commissioned by the OECD and released in October 2021 and December 2022 have highlighted the various risks (conflict financing, economic crimes, serious abuses of human rights) impacting extractive operations in the country.
Recent political evolutions in Venezuela provide an opportunity to initiate multi-stakeholder collective action to start addressing and tackling these risks, in order to bring the gold sector in line with international standards, counter criminal exploitation of the Venezuelan gold supply chain, develop meaningful relationships with local communities, and channel the production toward local and national economic development.
The panel explores the following issues:
- The main characteristics of gold extraction and trade in the country;
- The ways in which gold is exiting the country, and where it is going;
- What actions can the government of Venezuela and local stakeholders take to start addressing the various risks identified?
- How can international actors (governments, international organizations, private sector) support them?
This event is hosted by the US and the Americas Programme at Chatham House and the Centre for Responsible Business Conduct at the OECD.