Gracelin Baskaran
On December 25, 1956, the New York Times declared, “Venezuela Finds Big Ore Deposits; Geologists Assert Reserves of Minerals May Approach Nation’s Oil in Importance.” Nearly seven decades later, that promise has largely gone unrealized. Far from emerging as a major global mining power, Venezuela’s mineral sector has remained marginal, fragmented, and chronically underdeveloped.
In early January 2026, the United States carried out strikes in Venezuela and detained President Nicolás Maduro, with President Trump stating that the United States would temporarily “run” the country pending a political transition. Given the central role of natural resources in Venezuela’s economy—and President Trump’s explicit focus on Venezuelan oil—this moment invites a broader question. Beyond hydrocarbons, what role do Venezuela’s mineral resources play, and do they present any strategic interest for the United States? Understanding Venezuela’s mineral endowment and the constraints on its development is essential to assessing whether minerals meaningfully factor into U.S. strategic calculations or remain largely peripheral, despite its long-standing geological potential.
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