Venezuelas President Vows Mining Reform During US Cabinet Member Visit

US Interior Secretary Doug Burgum Meets with Venezuelan Interim President Delcy Rodriguez in Caracas

In a meeting held in Caracas on Wednesday, US Interior Secretary Doug Burgum met with Venezuela’s interim President Delcy Rodriguez. The meeting was part of an effort by US President Donald Trump to increase oil and mineral production in the South American country.

As a result of the meeting, Rodriguez announced that she would submit a proposal to reform Venezuela’s mining laws to the country’s legislature within the coming days. Burgum expressed optimism about strengthening economic ties between the US and Venezuela, stating that “the opportunities for collaboration and synergy between our two great countries are unlimited.”

Burgum was accompanied by representatives from nearly a dozen companies seeking access to Venezuela’s oil and minerals. He noted that these companies were eager to begin operations and reduce regulatory barriers.

The meeting took place amid a recent military operation in Venezuela, which resulted in the abduction and imprisonment of former President Nicolas Maduro. The incident was criticized as a violation of Venezuelan sovereignty by international experts.

In the months following the operation, the Trump administration has sought to increase private enterprise access to Venezuela’s natural resources, some of which were nationalized. Trump has claimed that the US has a right to Venezuelan oil due to early petroleum exploration in the country.

Venezuela possesses significant oil reserves and critical mineral deposits, including gold, copper, diamonds, and coltan. Burgum acknowledged the country’s wealth during his remarks, stating that “Venezuela is a rich country filled with both oil and gas resources.”

Critics have questioned whether the US is exploiting Venezuela for its own economic gain. The international community has established that each country has permanent sovereignty over its natural wealth and resources.

Rodriguez administration has faced pressure from Trump to act in accordance with his wishes, including signing a reform law to expand private investment in Venezuela’s state-controlled oil industry. The government has also transferred at least 50 million barrels of Venezuelan oil to the US for sale.

Trump has expressed satisfaction with Rodriguez’s job performance and praised her cooperation with US representatives.

Source: Al Jazeera