US gets $100 million gold from Venezuela as mineral ties deepen

The United States has received more than $100 million worth of gold from Venezuela, marking a significant development in Washington’s efforts to tap the South American country’s mineral resources, US interior secretary Doug Burgum confirmed.

Speaking to Fox News, Burgum said the gold shipment arrived in the United States on Friday and would be used for industrial and commercial purposes. He described the delivery as the first critical mineral to come from Venezuela as part of a broader resource partnership between the two countries.

Burgum said Venezuela holds vast mineral reserves and could become an important supplier of materials essential for modern industries.

“Venezuela has around $500 billion in gold resources,” he said, adding that the country also possesses other valuable minerals including bauxite and aluminium, which are used in defence manufacturing and consumer goods. He also pointed to coal deposits that could help generate power and support technological industries.

According to the US official, access to these resources could strengthen American supply chains and support strategic industries, including artificial intelligence and advanced manufacturing.

Burgum made the remarks after returning from a visit to Venezuela where he met the country’s interim leadership and representatives of more than two dozen American mining and energy companies interested in investing in the country’s resource sector.

The shipment comes after Washington issued a licence allowing certain transactions involving Venezuelan gold through the state-owned mining company Minerven. The move is part of a broader effort by the US administration to revive Venezuela’s mining sector and expand access to critical minerals.

During his visit, Burgum said American companies were eager to return to Venezuela to explore mining and energy opportunities after years of economic isolation.

He also suggested that many Venezuelans were optimistic about renewed economic engagement with the United States and the potential reopening of the country’s economy after decades of stagnation.

The renewed cooperation follows a dramatic shift in Venezuela’s political landscape earlier this year. In January 2026, US forces captured former Venezuelan president Nicolás Maduro during a military operation. He was later flown to the United States to face charges including narco-terrorism and drug trafficking.

Following his removal from power, Washington began negotiating access to Venezuela’s oil and mineral sectors. Venezuela holds the world’s largest proven oil reserves, and the US has since approved private companies to participate in the production and sale of Venezuelan crude.

Some sanctions have also been eased, allowing limited trade in Venezuelan energy and mineral resources as the new administration in Caracas seeks to attract foreign investment and rebuild the country’s economy.