Venezuela’s state-owned mining company Minerven has signed a multimillion-dollar agreement to supply up to 1,000 kilograms of gold to U.S. markets under a deal brokered with support from the Trump administration, according to Axios.
Under the contract, Minerven will deliver 650 to 1,000 kilograms of gold dore bars to global commodities trader Trafigura, which will transport the metal to American refineries through a separate arrangement with the U.S. government.
"Delcy Rodríguez, who is the President of Venezuela, is doing a great job, and working with U.S. Representatives very well. The Oil is beginning to flow, and the professionalism and dedication between both Countries is a very nice thing to see!" - President Donald J. Trump 🇺🇸 pic.twitter.com/KBTKnXubGu
— The White House (@WhiteHouse) March 4, 2026
Officials say U.S. Interior Secretary Doug Burgum helped facilitate the agreement during a visit to Venezuela aimed at expanding cooperation in mining and energy.
The deal reflects growing economic ties between Washington and Caracas after President Donald Trump removed former Venezuelan leader Nicolas Maduro earlier this year and moved to restructure the country’s resource sector.
Critics on the left accuse the administration of exploiting Venezuela’s resources, while supporters argue the arrangement will bring transparency and direct revenue to the Venezuelan government instead of black market networks.
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