March 5, 2026, By Micah Jonah
United States Secretary of the Interior, Doug Burgum, has met with Venezuela’s interim President, Delcy Rodriguez, in Caracas as part of efforts to strengthen economic cooperation between both countries.
The meeting, held at the Miraflores Palace on Wednesday, ended with an announcement that Rodriguez would forward a proposal to reform Venezuela’s mining laws to the national legislature in the coming days.
Burgum expressed optimism about expanding economic ties, stating that opportunities for collaboration between the United States and Venezuela were significant. He disclosed that representatives of nearly a dozen companies accompanied him on the two-day visit, with interest in investing in Venezuela’s oil and mineral sectors.
According to him, the companies are seeking improved access and regulatory adjustments to facilitate capital investment.
The renewed engagement follows recent political developments in Venezuela, including the removal and detention of former leader, Nicolas Maduro, during a January 3 military operation that drew international criticism. Some United Nations experts described the operation as a violation of international law.
In recent months, the administration of US President, Donald Trump, has advocated increased access for private enterprises to Venezuela’s natural resources, some of which had previously been nationalised.
Venezuela holds some of the world’s largest oil reserves, alongside deposits of gold, copper, diamonds and other critical minerals. Burgum highlighted the country’s resource wealth, describing it as significant for both oil and critical minerals.
However, questions have been raised by some observers about the implications of the growing partnership, particularly regarding sovereignty over natural resources and compliance with international law principles on self-determination.
Earlier this year, Rodriguez signed reforms aimed at expanding private investment in the state-controlled oil sector. Reports also indicate that oil shipments have been transferred to the US for sale under arrangements agreed by both governments.
The US diplomatic mission in Venezuela described Burgum’s visit as an important step in a phased plan to promote cooperation in the mining sector and strengthen supply chains for critical minerals.
Venezuela has faced economic challenges in recent years, with an increase in informal mining activities. Authorities have said reforms are intended to introduce better regulation and improve safety standards in the sector.
