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3h ago

U.S. Expands Venezuela Strategy Beyond Oil to Critical Minerals, Facing Doubts and Dangers

China’s control of refining makes any unverified mineral finds unlikely to help soon.

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.
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

  • The Trump administration is eyeing Venezuela’s minerals and potential rare earths in addition to plans to market its oil, according to officials and new reporting.
  • Experts say Venezuela’s mineral deposits remain largely unverified, and the U.S. Geological Survey does not list the country among rare earth producers.
  • The International Energy Agency reports that China handled over 90% of rare earth refining in 2024, highlighting a processing bottleneck even if mining were possible.
  • Researchers and analysts warn that mining zones, including the Orinoco Mining Arc, are plagued by illicit operations and extreme violence controlled by armed groups and criminal networks.
  • Industry analysis indicates Venezuela is unlikely to play a meaningful role in critical minerals for at least a decade due to poor data, security risks, weak investment and volatile policy.