US issues a license that authorizes sales of Venezuelan gold
The U.S. authorized Venezuela’s state-owned company to export gold, excluding Russia, Iran, Cuba, and North Korea, aiming to attract investment and control resource revenues.
- On Friday, the U.S. issued a license authorizing dealings with Minerven, Venezuela's state-owned gold mining company, after Doug Burgum met with acting President Delcy Rodríguez and over two dozen U.S. mining firms.
- Amid security risks, Venezuela's government gave security assurances to more than two dozen U.S. mining and minerals companies, many of which previously operated there.
- Under the license, firms and individuals from Russia, Iran, North Korea and Cuba are barred from contracting with Minerven, and officials framed the move as countering China’s influence over critical minerals.
- The license advances a plan to turn around Venezuela after U.S. forces captured then-President Nicolás Maduro, coinciding with efforts to claim a sanctioned tanker and nearly 2 million barrels of petroleum.
- Legal changes and security assurances are reshaping investor prospects in Venezuela as Delcy Rodríguez signed a law opening Venezuela's oil sector to privatization, creating openings for U.S. mining and minerals companies that previously operated there.
73 Articles
73 Articles
Interior Secretary Announces Arrival of $100 Million in Venezuelan Gold
U.S. Interior Secretary Doug Burgum said that as of March 7, an amount of gold worth $100 million has been transported from Venezuela to the United States after the government authorized dealings with a Venezuelan state-owned gold mining company. “That’s for both industrial purposes as well as other commercial uses,” Burgum told Fox News in an interview that aired on March 8. “Venezuela’s got $100 billion of resources of gold, but they’ve also g…
By Gonzalo Zegarra, Rocío Muñoz-Ledo, and Sol Amaya, CNN en Español. Just three days after U.S. Interior Secretary Doug Burgum stated from Caracas that the government of Delcy Rodríguez had guaranteed the safety of mining companies interested in investing in or returning to Venezuela, the National Assembly announced on Monday the first debate on the organic mining law. Burgum traveled to the South American country specifically to seek cooperatio…
US Office of Foreign Assets Control Issues License for Venezuela's Gold Sector
The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License 51 on Friday, March 6. The license authorizes US individuals and companies to conduct transactions with the Venezuelan state mining company, Minerven, related to Venezuelan-origin gold. The license allows the export, sale, supply, storage, purchase, delivery, and transportation of Venezuelan-origin gold for import to the US, the refining…
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