Is controlling oil not enough for the committee? Report: The US is now turning its attention to gold and other mineral resources

The Trump administration is extending its resource strategy in Venezuela from oil to the mining sector, seeking to establish new channels for acquiring critical minerals such as gold and further consolidating US control over the South American country’s natural resources.

According to Reuters, citing three sources familiar with the discussions, the Trump administration is considering a series of measures, including signing an executive order on critical minerals, to increase US involvement in Venezuela’s mining industry. The sources said that US officials have held meetings with several companies to assess their willingness to invest in or participate in Venezuela's mining sector.

White House spokesperson Taylor Rogers stated that the US and Venezuela are "benefiting from renewed intergovernmental cooperation and Western companies’ investments in Venezuela’s key industries."

However, the actual value of Venezuela’s mineral resources remains highly uncertain. Outdated geological data, weak infrastructure, and the control of gold deposits in the Orinoco Mining Arc by illegal armed groups mean that mining companies and investors must carefully assess the risks before making major investment decisions.

Beyond oil: minerals become a new strategic target

Since the US military overthrew Venezuelan leader Nicolas Maduro in January this year, Trump has sought to tie Venezuela’s resources more closely to Washington’s strategic and economic interests. Extending the focus to minerals is a natural progression of this strategy.

According to Reuters sources, this move could open the door for US capital to enter Venezuela’s mining sector, enabling US companies to gain not only oil but also supplies of minerals critical to national security. Venezuela produces gold, iron ore, bauxite, and nickel—providing the Trump administration with an opportunity to combine resource access with its national security and economic agenda.

A senior executive from a critical minerals company who has met with the government on Venezuela said: "We’re all closely watching developments in the oil sector and realize the critical minerals area may also open a parallel path."

Executive order undecided, policy direction remains uncertain

Sources revealed that the Trump administration is considering signing an executive order involving critical minerals, but the order is still being drafted and the overall strategic direction could change.

There is not complete consensus within the White House. A White House official told Reuters that there’s currently no need for an executive order, adding that the government believes existing law already provides a solid framework for investment. This position differs somewhat from the direction described by other sources, indicating that internal policy coordination is still ongoing.

Resource potential in doubt, investors face multiple barriers

While Venezuela’s mineral resource prospects are seen as a potential opportunity, the challenges facing actual investment cannot be overlooked. According to Reuters, much of Venezuela’s geological data is outdated, making it difficult to accurately assess the nation’s mineral potential at present.

Meanwhile, illegal armed groups control gold deposits in the Orinoco Mining Arc, and infrastructure development is seriously lagging. Analysts point out that, given these uncertainties, mining companies and investors may require access to the latest geological survey data before making any major new investment decisions.