Summary
Venezuela agreed to sell up to 1,000 kilograms of gold to the U.S. through its state-owned mining company, Minerven. The gold will be refined in the U.S., with the assistance of a commodities trader, Trafigura. This contract is part of broader deals under President Trump's guidance, involving U.S. control over Venezuela's resources, including oil.
Key Facts
- Venezuela's state-owned company Minerven signed a deal to sell up to 1,000 kilograms of gold to the U.S.
- The gold will be processed in the U.S. by the commodities trader Trafigura.
- U.S. Interior Secretary Doug Burgum helped facilitate the gold deal.
- This is the third extraction contract involving Venezuela's resources under the Trump administration.
- A kilogram of pure gold currently costs about $166,000.
- Venezuela's acting president, Delcy Rodriguez, plans to reform mining laws after meeting with Burgum.
- The U.S. ousted Nicolas Maduro in January, leading to control over Venezuela's resources.
- Some U.S. politicians criticize this control, calling it imperialism and corruption.
