Venezuela and US to Work Together on Mining Developments, Rodríguez Says

Published: March 5, 2026
The English Chronicle Desk
The English Chronicle Online

Venezuela and the United States have signalled a significant shift in bilateral economic relations as they agree to pursue cooperation on mining developments in the South American nation, interim President Delcy Rodríguez announced following talks with US Secretary of the Interior Doug Burgum in Caracas. The move reflects growing commercial engagement between Caracas and Washington, with both sides seeking to unlock Venezuela’s substantial mineral potential and attract foreign investment into the sector.

Rodríguez, Venezuela’s interim leader, made the announcement at the Miraflores presidential palace after hosting Burgum, who arrived with representatives from more than two dozen American mining and minerals companies. The discussions were framed around the strategic importance of Venezuela’s mineral wealth, encompassing gold, diamonds and critical minerals such as coltan and bauxite, and the potential for joint ventures and capital inflows that could benefit both nations economically.

As part of the emerging agenda, Venezuela plans to reform its outdated mining legislation — first enacted in 1999 — to make the sector more attractive to foreign investors and reduce bureaucratic barriers that have historically hindered large‑scale mining operations. Rodríguez said that new regulatory proposals would be submitted to the National Assembly in the coming days, with the goal of expanding legal frameworks to permit shared development with international partners, including US firms.

Officials emphasised that this collaboration builds on earlier reforms in Venezuela’s energy sector and represents a broader effort to modernise its extractive industries. For U.S. firms, access to Venezuelan minerals aligns with Washington’s strategy to diversify supply chains for critical resources, particularly amid global competition for rare earths and other key inputs used in technology, defence and renewable energy sectors.

The partnership was described by Burgum as having “no limits,” underscoring the high level of commercial interest among American companies eager to invest in Venezuela’s mining and resources infrastructure. Venezuelan authorities have sought to portray the cooperation as mutually beneficial, promising social and economic gains through job creation and export revenues while seeking to leverage US capital and technology.

The news comes amid a period of evolving diplomatic relations, following political changes in Venezuela that have opened the door for renewed economic engagement with the United States. Beyond mining, discussions between the two governments have also touched on other sectors, including oil and energy, indicating a multi‑sector approach to revitalising ties between the countries after years of strained relations.

The emphasis on mining partnerships highlights the shifting geopolitical landscape in the Americas, particularly as nations seek to secure resources critical to modern industrial processes and reduce dependency on traditional suppliers. For Venezuela, this cooperation represents an opportunity to draw on foreign investment to harness its vast mineral reserves. For the United States, it presents a strategic avenue to expand access to critical minerals and strengthen economic influence in the region.

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