US Issues License That Authorizes Sales of Venezuelan Gold

WASHINGTON (AP) — The U.S. issued a license Friday that authorizes dealings with Minerven, Venezuela's state-owned gold mining company, in the latest sign of the Trump administration’s intent to exercise more control over that country’s natural resources.

The license was issued after U.S. Interior Secretary Doug Burgum met in Venezuela with acting President Delcy Rodríguez this week, as well as with representatives of more than two dozen U.S. mining and minerals companies. Many of them previously operated in Venezuela.

Burgum said Venezuela’s government gave security assurances to mining companies interested in investing in the country, where mineral-rich areas have long been controlled by guerrilla members, gangs and other illegal groups.

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Under the license, people and companies from Russia, Iran, North Korea and Cuba are not authorized to engage in any contracts with Minerven

The Trump administration seeks to defend against China’s hold on critical minerals, some of which are abundant in Venezuela. The license seeks to advance the administration's plan to turn around the long-troubled country following the capture by U.S. forces of then-President Nicolás Maduro two months ago.

On another natural-resources front, the U.S. moved recently to take legal ownership of a sanctioned tanker and nearly 2 million barrels of petroleum seized off the coast of Venezuela in December. In January, Rodríguez signed a law that opened Venezuela’s oil sector to privatization.

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Garcia Cano reported from Caracas, Venezuela.

(The above story first appeared on LatestLY on Mar 07, 2026 12:40 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).