US administration considers critical minerals mining in Venezuela — OilPrice
The administration of US President Donald Trump is considering involving American companies in the extraction of gold and critical minerals in Venezuela. As OilPrice reports, citing Reuters, administration representatives have already held initial meetings with mining companies to determine their interest in operating in Venezuela’s sector.
Interest in gold and metals
According to the publication, Washington is considering Venezuelan resources as a potential source of metals for defense technologies and other applications that could reduce US dependence on Chinese supplies and processing. The head of a company working with critical minerals who met with administration representatives told Reuters that businesses are monitoring the situation in Venezuela’s oil sector and see a possible parallel line of work involving critical minerals.
According to various geological sources, Venezuela has deposits of gold, bauxite, nickel, copper, and coltan. At the same time, industrial extraction of bauxite and coltan is not conducted in the country, while gold production remains limited.
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Challenges for investors
The potential of Venezuela’s critical mineral deposits has not yet been fully quantified. Geological exploration is limited, and the available data require verification, which could delay the launch of new projects.
Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, said that Venezuela has not developed the institutional capacity, industrial base, and investment environment necessary for large-scale sustainable resource extraction.
GlobalData Energy analysts also noted that geological exploration, permits, mine development, processing capacity, and logistics are needed to establish a supply chain. Most of these components are insufficiently developed in Venezuela, so it may take years for critical minerals from the country to reach the market.
