The United States government is seeking greater access to Venezuela’s vast mineral resources, including gold, as Washington expands its efforts to increase influence over the country’s natural wealth beyond oil.
According to sources familiar with the discussions, the US is considering measures that could open Venezuela’s mining sector to American investment and give US companies access to minerals considered important to national security.
US officials have also met with companies to assess their interest in Venezuela’s mining industry.
The move forms part of President Donald Trump’s broader strategy to strengthen US influence in Latin America and counter China’s growing economic presence in the region.
Washington has already eased some restrictions on Venezuelan-origin gold and other minerals, allowing certain transactions and mining-related activities.
Trump has also moved to reshape Venezuela’s oil industry, with his administration announcing a deal that would give the US majority control of more than 65 billion barrels of Venezuela’s proven oil reserves.
The precise legal structure of the arrangement remains unclear.
Venezuela possesses potentially significant deposits of gold, iron ore, bauxite and nickel.
However, outdated geological data, poor infrastructure and widespread illegal mining make the country’s mineral wealth difficult to accurately assess.
The US push has raised concerns in Venezuela that Washington could turn the resource-rich country into a “modern-day colony.”
Meanwhile, Venezuela’s government is seeking foreign investment in its mining sector, with lawmakers recently approving a new mining law aimed at attracting investors while maintaining state ownership of mineral deposits.
REUTER.
