The United States has brokered a multimillion-dollar deal for Venezuela’s state-owned mining company, Minerven, to sell up to 1,000 kilograms of semi-refined gold to global commodities trader Trafigura. The gold, valued at approximately $163 million based on current market rates, is destined for U.S. refineries, marking a significant pivot in Venezuela’s resource exports away from black-market smugglers and former allies like Turkey and Iran. This agreement is the third major extraction contract overseen by the Trump administration since the capture of former leader Nicolás Maduro in January 2026, and it serves as a cornerstone of the White House’s strategy to reconstruct the Venezuelan economy under American influence.
U.S. Interior Secretary Doug Burgum:
On Friday, there was $100 million of gold that came from Venezuela to the United States.
The people of Venezuela are gonna be putting up a statue of Trump as a great liberator. pic.twitter.com/q2Rw7JytIT
— Clash Report (@clashreport) March 8, 2026
U.S. Interior Secretary Doug Burgum facilitated the contract, which is closely linked to broader energy deals worth over $1 billion. Under this new framework, revenues from Venezuela’s gold and oil reserves, the latter being the largest in the world, are being redirected to fund the purchase of American agricultural goods, medicine, and energy infrastructure. President Trump praised the “professionalism” of the cooperation on Truth Social, noting that the “oil is beginning to flow.” In response to the partnership, Venezuela’s acting president, Delcy Rodríguez, has announced comprehensive reforms to national mining laws to modernize the sector and attract further foreign investment.
You May Like To Read: Trump Appointed Erika Kirk to Air Force Academy Board to Continue Late Husband’s Work
While the administration frames the deal as a way to eliminate corruption and provide the Venezuelan people with access to stable markets, the move has sparked intense debate. Critics in Congress have characterized the oversight of Venezuelan resources as a form of imperialism, arguing that the “reimbursement” model prioritizes American corporate interests over local welfare. Despite these concerns, the deal secures a steady supply of high-quality gold for the U.S. at a time when global prices are surging due to the ongoing conflict in the Middle East, further solidifying the Trump administration’s “America First” approach to regional intervention.
Check out our latest video:
