US Explores Executive Order to Open Venezuela Mineral Sector

The Trump administration is exploring steps, including a potential executive order and corporate consultations, to open Venezuela's critical mineral sector to U.S. investment following earlier actions to secure the country's oil reserves, according to a report by The Straits Times.

The prospective policy follows the ouster of Nicolas Maduro and sits alongside parallel efforts by Washington to integrate North American capital into Venezuelan energy infrastructure. Although the critical minerals executive order remains in draft form and the broader strategy could still evolve, officials are actively evaluating mechanisms to accelerate resource extraction.

"We are all watching the oil situation closely and recognize there could be a parallel track with critical minerals," said an executive from a critical minerals firm who met with the administration about Venezuela.

Treasury Authorizations and the March OFAC Pivot

Preparations for expanded U.S. involvement in South American mining began earlier this year with targeted regulatory relief. In March, the U.S. Treasury Department's Office of Foreign Assets Control authorized specific transactions involving Venezuelan-origin gold and minerals.

These permissions included activities tied to the state-owned gold miner Minerven. The regulatory adjustment cleared the path for mining-related services and preliminary investment contract negotiations between Western corporations and Venezuelan entities.

"The United States and Venezuela are benefiting from renewed cooperation between our governments and new investments by Western companies in Venezuela’s key industries," said Taylor Rogers, a White House spokeswoman, in a statement regarding the policy.

Geological Resources and Historical Estimates

Venezuela possesses underexploited geological deposits outside of its dominant petroleum sector. A 2018 Venezuelan government report estimated national mineral resources across four primary commodities:

• Gold: 644 metric tons
• Iron Ore: 14.68 billion metric tons
• Bauxite: 321.5 million metric tons
• Nickel: 407,885 metric tons

Independent analysts note that historical government reporting often used the terms "reserve" and "resource" interchangeably, meaning actual extraction costs and commercial viability require modern geological verification.

Local Regulatory Framework and Royalty Rules

External investment must navigate newly established domestic legal boundaries enacted by Caracas. In April, Venezuelan lawmakers unanimously approved a mining law dictating that all mineral deposits remain government property.

That legislation established a statutory royalty tax of up to 13% of gross production value for entities operating inside the country. These fiscal terms form the baseline for any incoming Western mining conglomerates negotiating concessions under the renewed bilateral framework.