Plans to increase the country's coal production to over 21Mt by 2008 will rely on infrastructural development in the country. Venezuela has recoverable coal reserves containing some 530 Mt, most of which is bituminous.
Most production is exported, mainly to the USA and Europe.
Fortunately the favourable location of the coalfield to deepwater ports as well as good coal quality, make Venezuela's coal highly favourable to foreign investment. Carbozulia operates in joint ventures with a number of foreign companies, such as Shell, Ruhrkohle, and Inter-American Coal. Shell Coal has been acquired by Anglo American subsidiary AmCoal. One of the country's largest mines, Paso Diablo has reserves estimated at 180 Mt and produces 5 Mt per year. Current government plans call for opening the sector up further to private operators, extending concessions to 40 years, and improving tax laws.