The Venezuela opportunity just got significantly bigger.
Interior Secretary Doug Burgum landed in Venezuela today to begin talks about a potential rare earth minerals partnership, as the Trump administration seeks to develop alternatives to China's dominance in critical minerals supply. Fox Business
Burgum, who leads Trump's National Energy Dominance Council, is expected to meet with acting President Delcy Rodríguez along with mining and oil executives. He is also expected to unveil an oil deal during the trip — an early affirmation of Trump's bid to boost crude production in the country. MINING.COM
Burgum told Bloomberg last month that the government is preparing a separate license focused on authorizing mining activity in Venezuela — a move that would open an entirely new sector to US companies alongside the oil and gas industry.
Venezuela's mineral wealth is substantial. The country holds large deposits of critical minerals, including coltan, bauxite, nickel, iron ore, gold, and diamonds, concentrated in the Guayana Shield and the Orinoco Mining Arc.
Burgum's visit follows a February trip by Energy Secretary Chris Wright, who toured Venezuela's Orinoco oil belt and met with officials to discuss options for energy companies seeking to expand operations there.
For companies in mining infrastructure, equipment supply, and field services, this signals that Venezuela's investment window is expanding rapidly — and that the US government is actively clearing the path.
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