On September 8, local time, Reuters reported, citing three people familiar with the matter, that the Trump administration is seeking to expand U.S. access to Venezuela’s mineral resources, including gold. As the U.S. government continues to seek control and influence Venezuela’s rich natural resources beyond oil, this move could open up Venezuela’s mining industry to U.S. investors and allow U.S. companies to obtain minerals that are crucial for U.S. national security.
According to anonymous sources, the Trump administration is considering a series of measures to expand U.S. involvement in Venezuela’s mining industry, including the possibility of issuing an executive order regarding key minerals. However, the order is still in the drafting stage, and the U.S. government’s strategy for securing access to Venezuelan mineral resources could change. Meanwhile, U.S. officials have held talks with companies to understand their interest in investing or participating in Venezuela’s mining industry.
On June 11, 2026, in Las Brizas de Cuuny, near the town of Las Crillatas in Bolívar State, Venezuela, miners were working at a manual gold mine. Venezuela has the world’s largest oil reserves, and it also possesses mineral resources such as gold, diamonds, bauxite, coltan, and rare earths. However, most of the country’s mining areas—especially those located in remote regions far from major cities, covering an area of 112,000 square kilometers—are controlled by armed gangs or guerrillas. Visual China
A key mineral enterprise executive who met with the US government regarding Venezuela issues stated that the US is closely monitoring the Venezuelan petroleum sector and believes key minerals may exist in what is called "parallel paths."
White House spokesperson Taylor Rogers said that the United States and Venezuela are benefiting from the renewed cooperation between their governments, as well as new investments by Western companies in key industries in Venezuela. A White House official told Reuters that there is no need to issue any executive orders at this time, as existing laws provide a solid framework for such investments.
Reuters pointed out that this action is part of the broader strategy of US President Donald Trump to strengthen America's influence in Latin America. After Venezuelan President Nicolás Maduro was forcibly taken by the US military in January this year, Vice President Delcy Rodríguez became acting president of Venezuela and has been working to strengthen cooperation with the United States.
In fact, the US government has already begun paving the way for American companies to enter the Venezuelan mineral sector.
In March of this year, the Office of Foreign Asset Control of the U.S. Treasury authorized certain transactions involving gold produced in Venezuela, including activities related to the state-owned gold mining company Minerven. Subsequently, the authorization was expanded to include mineral products from Venezuela, and it was also allowed to cover some mining-related services as well as negotiations for potential investment contracts.
Reports say that these measures have established a framework for American companies to seek opportunities in Venezuela’s mining industry.
In addition to mineral resources, the Trump administration has also taken further action in Venezuela's oil industry. Last week, Trump announced an agreement stating that the United States would gain majority control over Venezuela's proven oil reserves of over 65 billion barrels. However, the specific legal framework has not been announced yet.
The report concluded that as the United States’ involvement in Venezuela’s oil and mineral resources continues to expand, there are concerns within Venezuela itself. Some people worry that Trump is turning this Latin American country into a “modern colony”.
