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2d ago

U.S. Broadens Venezuela Strategy to Target Critical Minerals

Experts say Chinese control of refining makes near-term mineral gains from Venezuela unlikely.

A Venezuelan miner wearing a shirt with the image of Uncle Sam works digging in a mine to extract gold, which will then be sold in El Callao, Bolivar State, Venezuela, on August 29, 2023.
A man works at an artisanal gold mine in the town of El Dorado, Bolivar state, Venezuela, om May 25, 2025. El Dorado is part of a region christened by the government as the Arco Minero del Orinoco, which has large mineral reserves and is criss-crossed by illegal mining and organised crime, and where trade with gold dust is common currency. (Photo by Pedro MATTEY / AFP) (Photo by PEDRO MATTEY/AFP via Getty Images)
An excavator moves earth to a dump truck at a mining site of Venezuelan iron ore producer CVG Ferrominera Orinoco, on Bolivar Hill outside of Ciudad Piar, Venezuela, on Thursday, July 9, 2015.
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Overview

  • After moving to market Venezuelan oil, the Trump administration is publicly highlighting interest in the country’s minerals and rare-earth potential as a strategic counter to China.
  • Commerce Secretary Howard Lutnick said Venezuela holds "all the critical minerals" and a strong but neglected mining legacy, signaling a drive to reengage the sector.
  • The U.S. Geological Survey does not list Venezuela among confirmed rare-earth holders, though analysts note possible deposits of coltan and bauxite amid sparse, outdated geological data.
  • China accounts for over 90% of global rare-earth refining, so even successful extraction in Venezuela would face a processing bottleneck that would take years to overcome.
  • Researchers warn that mining zones such as the Orinoco Mining Arc are dominated by armed groups and criminal governance, with violence and illicit flows that complicate any rapid, large-scale investment.