Venezuela acting government sends mining reform bill to legislature

March 9 (Reuters) - Venezuela's acting government on Monday sent a mining regulation proposal to the country's ruling-party controlled national assembly, the latest salvo in a package of U.S. backed changes meant to open the economy to foreign investment in oil and minerals.

The administration of U.S. President Donald Trump has supported a series of moves by acting President Delcy Rodriguez to attract investors and stabilize the country since a January U.S. raid that captured President Nicolas Maduro, with Trump repeatedly praising Rodriguez for cooperating with the U.S..

A draft of the law seen by Reuters but not yet made public repeals a 1999 mining regulation law, allows foreign and domestic companies to exploit gold, diamonds and rare earths and increases concessions from 20 years to 30 years.