Venezuela’s acting president, Delcy Rodríguez, and US Secretary of the Interior Doug Burgum said their countries will work together on developing Venezuela’s mining sector. Their comments came after a meeting at the presidential palace in Caracas.
Burgum leads President Donald Trump’s National Energy Dominance Council. He visited Venezuela with executives from more than two dozen US mining and minerals companies exploring investment opportunities.
Venezuela has already reformed its oil laws to open the sector to foreign investment. Now the government plans similar reforms for its mining industry, which could allow large foreign firms to extract minerals and rare earth elements.
The country is rich in natural resources, from oil to gold, diamonds and critical minerals used in technology. But illegal mining has grown, drawing criticism for environmental damage and links to criminal groups.
Rodríguez said she will ask lawmakers to support the reforms so foreign investment can flow into the country. US officials and mining executives hope these changes will attract billions of dollars of investment and create high-paying jobs.
Trump praised Rodríguez for her cooperation after the meeting and said the two nations share a “wonderful relationship.” He also mentioned that the US is benefiting from Venezuelan oil and hopes the cooperation will improve life for Venezuelans.
The mining law changes are expected to be submitted to Venezuela’s National Assembly soon, aiming to cut red tape and boost capital investment.
