US mining companies are lining up to invest in Venezuela, Interior Secretary Doug Burgum said during a visit to the country on Wednesday, where he pressed for greater access to critical minerals.
Burgum represents an administration that claims to effectively control Venezuela and its vast natural resources following the removal of Nicolás Maduro.
He is the second senior US official to visit Caracas since an American bombing raid on January 3 left around 100 people dead and saw Maduro and his wife flown to New York to face US drug trafficking charges.
Accompanied by more than two dozen mining executives, Burgum described the group as representing “billions of dollars in investments and billions of dollars in well-paid jobs.”
“They are eager to get started, and they are eager to cut the red tape to allow that capital investment to flow,” he said after meeting with interim President Delcy Rodriguez.
Burgum, who heads President Donald Trump’s National Energy Dominance Council, described cooperation between Caracas and Washington as “unlimited.”
His visit follows that of Energy Secretary Chris Wright last month, who called for a “dramatic increase” in Venezuela’s oil output and highlighted “tremendous opportunities” for both countries.
The shift in tone reflects the altered US-Venezuela relations since Maduro’s capture. Trump has allowed Rodriguez, formerly vice president, to serve as interim leader as long as she complies with his directives regarding access to Venezuela’s natural resources.
In another sign of the diplomatic reset, the US Department of Transportation approved Envoy Air, an American Airlines subsidiary, to operate direct flights between Miami and the Venezuelan cities of Caracas and Maracaibo. These will be the first direct flights since US-Venezuela relations deteriorated in 2019.
— Gold and Coltan —
While US attention has focused on Venezuela’s oil, Burgum noted the country is also “rich in critical minerals.” In addition to gold and diamonds, Venezuela has deposits of bauxite and coltan, a mineral used in mobile phones, laptops, and other electronics. Mining activity is concentrated in the southeastern Orinoco arc.
Environmentalists have condemned the expansion of illegal mining in the area, citing deforestation and river pollution. Rodriguez, who recently overhauled the state-controlled oil sector to attract private investment, is now planning reforms to the mining code. Her brother, Congress Speaker Jorge Rodriguez, said Monday that the changes would allow “large foreign companies” to exploit minerals and rare earth elements.
— ‘Doing a great job’ —
Trump has praised Rodriguez’s compliance, posting on Truth Social on Wednesday that she was “doing a great job and working with US Representatives very well.”
“The Oil is beginning to flow, and the professionalism and dedication between both Countries is a very nice thing to see,” he wrote.
Rodriguez thanked Trump on Telegram for the US administration’s “kind willingness to work together for the benefit of the people of the United States and Venezuela.”
On Tuesday, Venezuelan state oil firm PDVSA announced new oil contracts with the United States. Since January, PDVSA has shipped over 80 million barrels of crude to the US, according to Trump. These deals come amid concerns about falling global oil output due to the war in the Middle East, which has already driven crude prices to their highest level in 18 months.
