
Venezuela this week took another step toward opening its extractive sector to foreign capital, while the United States authorized limited transactions involving Venezuelan gold. The National Assembly approved on first reading a mining reform pushed by Delcy Rodríguez’s interim government, as Washington issued a license allowing dealings with Minerven, Venezuela’s state gold company, just days after the two countries restored diplomatic and consular relations.

US Interior Secretary Doug Burgum said in Caracas on Wednesday that opportunities for cooperation between Washington and Venezuela “have no limits,” highlighting the South American country’s mineral potential during a visit focused on mining and access to critical minerals.