In a significant policy shift, the United States government issued a comprehensive license on Friday authorizing commercial dealings with Minerven, Venezuela’s state-controlled gold mining enterprise. This strategic move represents the Trump administration’s latest effort to assert greater influence over Venezuela’s vast natural resource sector while countering global competitors.
The authorization follows high-level diplomatic engagements between U.S. Interior Secretary Doug Burgum and Venezuelan acting President Delcy Rodríguez this week. The discussions included representatives from more than two dozen American mining and mineral corporations, many with prior operational experience in the South American nation.
According to Secretary Burgum, Venezuelan officials provided concrete security guarantees to potential investors seeking to operate in mineral-rich regions historically dominated by guerrilla factions, criminal organizations, and other illegal armed groups. The license explicitly prohibits participation by entities from Russia, Iran, North Korea, and Cuba in any contractual arrangements with Minerven.
This development forms part of a broader administration strategy to diminish China’s dominant position in the global critical minerals market, leveraging Venezuela’s substantial untapped mineral reserves. The policy shift occurs alongside recent U.S. actions to assume legal control of a sanctioned tanker and approximately 2 million barrels of petroleum intercepted off Venezuela’s coast in December.
The licensing initiative advances Washington’s plan for Venezuela’s economic restructuring following the detention of former President Nicolás Maduro by U.S. forces two months ago. This approach received additional momentum in January when Rodríguez enacted legislation opening Venezuela’s petroleum sector to privatization, signaling potential broader economic reforms.