US weighs expanding American companies' access to Venezuela's gold and mineral deposits

According to a report published by Ecoiran on Thursday, September 10, 2026 (19 Shahrivar 1405), the US government is exploring ways to expand American companies' access to Venezuela's mining sector, particularly gold and other strategic minerals. Per the report, Washington is even weighing a possible executive order on Venezuela's critical minerals, and US officials have held talks with mining companies about potential investment in the sector, though no final decision on an executive order has been made. The US Treasury Department also renewed or modified permits in September related to activity in Venezuela's coal and mineral sector, including gold.

Citing Reuters reporting, Ecoiran said much of Venezuela's geological data is outdated, making it difficult to accurately assess the mining sector's real capacity; the Orinoco gold belt near Venezuela's borders with Guyana and Brazil is a major focus, though parts of it are controlled by illegal mining groups. Venezuela's parliament passed a new law in April 2026 to encourage mining investment, which keeps mineral reserves under state ownership while capping royalties for some minerals at up to 13 percent of gross output value.