Caracas: Venezuela’s interim president Delcy Rodríguez and US Secretary of the Interior Doug Burgum have announced that Venezuela and the United States will work together to develop the South American nation’s mining sector, signalling a new phase of economic cooperation between the two countries.
Burgum, who also heads the National Energy Dominance Council under Donald Trump, met Rodríguez at the presidential palace in Caracas during a high-profile visit accompanied by executives from more than two dozen American mining companies. The companies could bring billions of dollars in investment and create thousands of high-paying jobs, according to US officials.
“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
The meeting marks the second visit by a US cabinet-level official to Venezuela since January, when former president Nicolás Maduro was captured following US military operations in the country.
Mining reforms planned to attract foreign investment
Rodríguez said the Venezuelan government is preparing a reform of the country’s mining law, which will soon be submitted to the National Assembly. The changes are expected to open the sector to greater foreign participation, similar to recent reforms in Venezuela’s oil industry that allow more international investment.
According to officials, the proposed legislation would allow large foreign companies to mine minerals and rare earth elements in the country. Venezuela holds vast natural resources, including gold, diamonds, copper, bauxite and rare earth minerals used in electronics such as mobile phones and electric-vehicle batteries.
Environmental and security concerns remain
Despite its mineral wealth, Venezuela’s mining sector faces significant challenges. Environmental groups have long warned about illegal mining operations linked to deforestation and water pollution, particularly in remote areas. Criminal gangs are also believed to run illicit mining networks, while allegations of corruption in the sector persist.
US authorities have previously accused Maduro and several members of his former administration of running a criminal organisation involved in activities including illegal mining and drug trafficking, allegations he has consistently denied.
Trump praises cooperation
After the Caracas meeting, Trump praised Rodríguez’s cooperation with US officials, saying she was doing a ‘great job.’ Trump added that Washington expected to benefit from Venezuela’s energy resources and said the partnership would also improve conditions for the Venezuelan people.
Rodríguez, speaking alongside Burgum, urged lawmakers to support the mining reforms quickly to attract international investors and accelerate economic recovery in the resource-rich country.
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