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Venezuela

Venezuela is a country located on the northern coast of South America, bordered by Colombia, Brazil and Guyana, with a Caribbean coastline. The capital and largest city is Caracas. Venezuela has a population of about 28 million people and its economy has historically been dominated by petroleum exports, as it holds some of the world's largest proven oil reserves. The country's currency is the bolívar. Venezuela operates as a federal presidential republic, though its governance has been marked by significant political controversy and international dispute in recent years. The economy has experienced severe contraction, hyperinflation and widespread shortages since the mid-2010s, leading to a major humanitarian crisis and mass emigration. Venezuela is a member of the Organisation of the Petroleum Exporting Countries (OPEC), the Union of South American Nations and other regional bodies, though its international standing has been complicated by sanctions and diplomatic tensions. The country's political situation has divided the international community, with some nations recognising the government of Nicolás Maduro and others supporting opposition claims. Venezuela's vast mineral wealth includes not only oil but also gold, iron ore, bauxite and other resources. The nation gained independence from Spain in 1821 as part of Gran Colombia, becoming a separate republic in 1830.

Venezuela Updates


An oil rig
Goldman lowers 2027 Brent oil forecast on supply growth, demand risks
12th June 2026 By: Reuters

Goldman Sachs on Thursday lowered its 2027 average Brent oil price forecast to $80/bbl, citing stronger supply growth and persistent demand weakness, even as it warned prices could swing sharply... 


Newmont Ahafo gold pour
Venezuela deploys troops against illegal miners in key gold belt
11th June 2026 By: Reuters

Venezuela has deployed troops to target illegal groups controlling key gold deposits, according to local residents and human rights activists, as the government seeks to attract foreign investment... 


Sherritt's nickel and cobalt operation, in Cuba
Sherritt shares suspended amid Cuba challenges
25th May 2026 By: Marleny Arnoldi

The Ontario Securities Commission has issued a failure-to-file cease trade order against TSX-listed Sherritt International Corporation effective May 21, owing to the company’s failure to file its... 


Sherritt operation in Cuba
Sherritt warns of looming acute operational, financial and legal difficulties in Cuba
20th May 2026 By: Marleny Arnoldi

Canadian mining company Sherritt International Corporation, which is among Cuba’s largest foreign investors, is seeking to take the necessary and most appropriate actions to definitively address... 


Forest in Venezuela
Venezuela gazettes new 'investor friendly' mining law
6th May 2026 By: Marleny Arnoldi

Venezuela's new mining law, 'Ley Orgánica de Minas' has been formally enacted and gazetted. TSX-V-listed Roland Mineral Enterprises says the new mining law represents a significant step in... 


Sherritt's operation in Cuba
Canadian miner invested in Cuba says it's asssessing Trump's fresh sanctions
5th May 2026 By: Bloomberg

A Canadian mining company that is among Cuba’s largest foreign investors is consulting with advisers and stakeholders after President Donald Trump expanded US sanctions against the struggling... 


Greenheart Gold's Tosso Creek project area, in Suriname
British investment service increases stake in Greenheart to 19.9%
17th April 2026 By: Marleny Arnoldi

England-based La Mancha Resource Capital, which manages the La Mancha Resource Fund, has announced it will increase its shareholding in TSX-V-listed Greenheart Gold from about 4.6% to 19.9%. The... 


Molten gold
Venezuela hopes to lure back international miners, but it's a risky business
13th April 2026 By: Reuters

Venezuela's effort to attract foreign investors to develop its gold, iron and bauxite seams has enthusiastic backing from the Trump administration but faces big challenges, including armed groups... 


US issues new Venezuela-related general licences for critical minerals
30th March 2026 By: Reuters

The US on Friday issued new, Venezuela-related general licenses for critical mineral investment and operations, according to the US Treasury Department. The licenses authorize "the supply of... 


US Energy Secretary Chris Wright
Oil prices have not climbed enough to cause demand destruction, US energy secretary says
24th March 2026 By: Reuters

Global oil prices have not climbed enough to cause demand destruction, US Energy Secretary Chris Wright said on Monday at the CERAWeek energy conference in Houston, Texas, even as markets continued... 


Photo of Terence Creamer
Fundamentally disrupted
20th March 2026 By: Terence Creamer

Peace is not merely the absence of war. Yet when conflicts rage, the foremost priority is always to find ways to stop the killing and the destruction of infrastructure. Only then is there any... 


Trafigura to help Venezuela's Minerven develop a responsible gold-sourcing programme
Trafigura to help Venezuela's Minerven develop a responsible gold-sourcing programme
17th March 2026 By: Reuters

Trafigura will work with Venezuela's state gold miner Minerven to develop a responsible sourcing programme as part of its pre-payment deal for gold dore, a semi-pure alloy, the Swiss commodity... 


Gold Reserve, other miners receive US license to negotiate Venezuela return
6th March 2026 By: Reuters

Gold Reserve said on Thursday the US Treasury's Office of Foreign Assets Control has issued a 30-day licence allowing certain companies, including the miner, to negotiate with Venezuela. Shares of... 


An image of Ian Cockerill
Exploration key value driver for miner
27th February 2026 By: Lumkile Nkomfe

Exploration represents one of the most important drivers of value for multinational gold producer Endeavour Mining, having added over 20-million ounces to its portfolio at the significantly low... 


Booyco Engineering HVAC/climate control system manufacturing facility, with workers
Faster delivery times trending as geopolitical climate boosts defence contracts
20th February 2026 By: Tracy Klückow

The need for rapid development and delivery of heating, ventilation and air-conditioning (HVAC) units, and climate-control systems for military use is well known. However, the geopolitical issues... 


commodities trading
Gold, copper underpin commodities outlook as oil, grains eye recovery
6th February 2026 By: Darren Parker

Commodities are entering 2026 on a firmer footing, with gold and copper supported by strong structural drivers and the potential for recovery emerging in oil and grain markets later in the year,... 


commodities trading board on stock exchange
Commodity markets face volatile year as copper, precious metals stay firm but ferrous metals weaken
5th February 2026 By: Darren Parker

Commodity markets are set for a volatile year, with copper, precious metals and rare earths supported by supply tightness, geopolitical risks and currency dynamics, while ferrous metals face weaker... 


Petrol, diesel prices to decrease
Petrol, diesel prices to decrease
2nd February 2026 By: Sabrina Jardim

Mineral and Petroleum Resources Minister Gwede Mantashe has announced that the price of petrol 93 and 95 will decrease by 65c/l from February 4, while the price of diesel (0.05% sulphur) will... 


Zero Carbon Charge co-founder and chairperson Joubert Roux
Opinion: EVs and renewables are best way for South Africa to loosen oil’s grip
22nd January 2026

In this article, South African offgrid electric vehicle (EV) charging infrastructure developer Zero Carbon Charge co-founder and chairperson Joubert Roux writes about the renewed use of oil as a... 


Image of Donald Trump
De Klerk Foundation condemns Nobel Peace Prize being used as ‘political currency’
21st January 2026 By: Thabi Shomolekae

The FW de Klerk Foundation has slammed Venezuelan opposition leader Maria Corina Machado’s decision to give her Nobel Peace Prize medal to US President Donald Trump, during her visit to the White... 


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