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US and Venezuela announce mining partnership
Venezuela's interim president, Delcy Rodríguez, and US Secretary of the Interior Doug Burgum have agreed to jointly develop the South American nation's mining sector, marking a significant shift in bilateral relations.
High-level meeting in Caracas
Burgum, who leads President Donald Trump's National Energy Dominance Council, met Rodríguez at the Miraflores Palace in Caracas. This is the second visit by a US cabinet member since Washington's January operation to detain President Nicolás Maduro, who faces trial in the US later this month.
The presidential palace remains adorned with images of Maduro, including recent posters featuring him and his wife under the slogan, "We want them back."
Venezuela pushes for foreign investment in mining
Following reforms to open its oil sector to foreign capital, Venezuela is now preparing similar changes for mining. While details remain undisclosed, Jorge Rodríguez, the president of the National Assembly and Delcy Rodríguez's brother, stated the reforms would permit "large foreign companies" to extract minerals and rare earth elements.
Venezuela holds vast reserves of gold, diamonds, and critical minerals, including those used in electronics like mobile phones. However, illegal mining has surged, drawing criticism from environmentalists over deforestation and pollution. Criminal groups are widely reported to control many operations, with allegations of corruption within the government.
US praises cooperation, eyes economic benefits
After the meeting, Trump praised Delcy Rodríguez's leadership, calling her efforts "a great job" and noting strong collaboration with US officials. He highlighted potential economic gains, stating the US would access "hundreds of millions of barrels of oil" and improve conditions for Venezuelans.
In a joint press statement, Rodríguez urged lawmakers to support the reforms, claiming Venezuela had earned "top marks on everything... 20 out of 20" from the US for its cooperation. Earlier, Trump had warned her to "do the right thing" or face consequences similar to Maduro's.
US firms poised for investment
Burgum met with mining representatives from both countries, announcing that over two dozen US companies-including major industry players-were present. He described the potential investment as "billions of dollars" and projected thousands of high-paying jobs.
The US has previously accused Maduro's government of running a criminal enterprise linked to illegal mining and drug trafficking, allegations Maduro has consistently denied.
