Concerns Surround U.S. Interest in Venezuela’s Mineral Reserves
The renewed focus from the Trump administration on Venezuela’s mineral resources raises “serious risks,” according to an expert on illegal economies, following Nicolás Maduro’s recent capture.
Just a day after U.S. forces detained President Maduro in Caracas, officials from the Trump administration highlighted the country’s rich mineral assets. Commerce Secretary Howard Lutnick, traveling with President Trump on Air Force One, remarked on January 4, “We’ve got steel, we’ve got minerals, we’ve got all the critical minerals. They have a great rusted mining history.” He further stated that Trump “is going to fix things and take things back for the Venezuelan people.”
“Venezuela’s potential for gold, critical minerals, and rare earths is substantial, making mining resources a priority for President Trump,” Bram Evas told FOX News Digital.
However, Evas warned that the illegal mining economy is rife with extreme violence. He described a landscape where forced labor is common and criminal organizations control mining areas, sometimes enacting brutal penalties such as severing hands for theft. He cautioned that, without robust safeguards, the U.S. could inadvertently get involved with these dangerous networks.
“This sector is already entangled with transnational criminal organizations engaged in human rights violations and linked with Chinese corporate interests,” Evas remarked. He expressed concern that involvement from companies or foreign security forces could escalate tensions in the Venezuelan Amazon region quickly and violently.
Despite the focus on oil and minerals, Ebas pointed out that the mining situation is more complex than that of oil. He noted that illegal mining of resources like gold and rare earth elements is mainly under the control of Colombian guerrilla factions, often working with corrupt Venezuelan security forces, with a significant amount of production flowing to China.
Ebus painted a grim picture of the mining zones. “The district is pretty much governed by criminal entities,” he explained. These armed groups dictate who can enter and leave, impose taxes on both legal and illicit activities, and carry out their own forms of justice. Punishments for infractions can range from expulsion to torture or even death.
Reports of severe human rights abuses are troubling, including mutilations and executions, and the involvement of Venezuelan military forces in organized crime is also concerning, Evas noted. Major guerrilla groups like the ELN are heavily involved in illegal mining, alongside local crime organizations. Evas added, “At least five major ‘syndicatos’ operate in the Bolivarian state.”
Since President Maduro established the Orinoco concession in 2016—an area rich in resources—the region has become synonymous with illegal mining and corruption. Although sanctions were imposed on Venezuela’s gold exports in 2019, it’s estimated that over 86% of the country’s gold production is illegal and controlled by crime syndicates.
From a U.S. perspective, Ebas suggested that controlling critical minerals could be a strategic move to limit China’s influence. “Gold prices are anticipated to peak around 2026, and access to it could significantly benefit the national economy and stabilize government investments,” he stated. Additionally, controlling the supply chain for critical minerals might provide the U.S. with important geopolitical leverage, particularly in denying access to China.
