US’ Burgum in Venezuela to discuss critical minerals

CARACAS

U.S. Secretary of the Interior Doug Burgum March 4 met in Venezuela with acting President Delcy Rodríguez in the latest sign of the Trump administration’s intent to exercise control over the South American country’s natural resources.

Burgum, who leads U.S. President Donald Trump’s National Energy Dominance Council, and Rodríguez met with representatives of more than two dozen U.S. mining and minerals companies, many of which had previously operated in Venezuela. The two-day visit comes as the administration seeks to defend against China’s hold on critical minerals — some of which are abundant in Venezuela.

The companies represent billions of dollars in investment and thousands of dollars in high-paying jobs, Burgum told reporters standing next to Rodríguez, whom he praised for her efforts “to cut the red tape and allow capital investment to flow.”

Burgum became the latest U.S. official to travel to Caracas to meet with Rodríguez, who was sworn in following the capture by U.S. forces of then-President Nicolás Maduro two months ago. His trip follows a February visit by Energy Secretary Chris Wright, which was focused on the country's oil potential.

In addition to oil, Venezuela is rich in gold, copper, coltan, bauxite, diamonds and other precious mined resources, while unsafe working conditions are common in the poorly regulated industry. The elements niobium and tantalum, both considered critical minerals and crucial for smartphones and the batteries of electric vehicles, are extracted from coltan. Bauxite is processed into aluminum, which the U.S. also lists as a critical mineral.