U.S. Secretary of the Interior Doug Burgum has stated that Venezuela's government is providing security assurances to mining companies interested in investing in the country, where mineral-rich areas have long been controlled by guerrilla groups, gangs, and illegal miners operating with the consent of officials and the military.
Speaking at the end of a two-day trip to Venezuela, Burgum said the government of acting President Delcy Rodríguez acknowledged security concerns. He noted that legal exploitation of mining in unsafe, remote areas is part of a phased U.S. plan to stabilise the crisis-hit country.
“We heard assurances in the meeting today and yesterday that if companies wanted to get to these areas, do due diligence, think about reopening mines, maybe even getting back to mines that they themselves were running 15 or 20 years ago, that this government would ensure their security,” Burgum told reporters.
Burgum, who leads President Donald Trump’s National Energy Dominance Council, said illegal activity had “created an economic opportunity where there was none,” but legal investments would bring a “superior economic opportunity.” His visit follows the capture of former President Nicolás Maduro by U.S. forces two months ago and comes as the Trump administration seeks to counter China’s dominance in critical minerals, many of which are abundant in Venezuela.
In addition to oil, Venezuela is rich in gold, copper, coltan, bauxite, and diamonds. Rodríguez announced plans to overhaul the country’s mining law to attract foreign investment, mirroring recent oil industry reforms that opened the door to privatisation. Many foreign companies saw assets expropriated about two decades ago, and illegal mining has proliferated since 2016 under a government mining zone, with officials and military taking cuts from illicit revenue.
