Venezuela Strikes Gold: Landmark Deal with Trafigura for US Markets

Venezuela's state-owned mining company has entered into a substantial arrangement with Trafigura, aiming to supply up to 1,000 kg of gold dore bars for U.S. markets. The deal was reportedly facilitated by the U.S. government, reflecting a strategic move to bolster Venezuela's mining sector and U.S. mineral supply.

Venezuela's state-owned mining company has secured a significant agreement with commodities trader Trafigura, aiming to provide between 650 to 1,000 kilograms of gold dore bars to the U.S. market. Axios reported this development, citing informed sources.

The deal stipulates that Minerven will supply the lion's share of gold, which Trafigura will then transfer to refineries under a separate U.S. government arrangement. Confirmation of the deal came from a White House official via Reuters.

Describing the transaction as historical, the official revealed that the deal had been orchestrated under President Trump's directive. The strategy aims to revive Venezuela's mining sector, aiding U.S. industries dependent on mineral resources. Specific details of the agreement's terms remain undisclosed.

(With inputs from agencies.)