Coin Press - US says Venezuela to protect mining firms as diplomatic ties restored

Interior Secretary Doug Burgum, a member of President Donald Trump's cabinet, said he had received assurances from Caracas that the "government would ensure their security," adding that Venezuela would surpass its oil and gas production targets in 2026.

Burgum, who leads Trump's National Energy Dominance Council, represents a US administration which says it effectively runs Venezuela and controls the country's vast natural resources after toppling leader Nicolas Maduro.

He is the second senior US official to visit since the bombing raid on January 3 that left around 100 people dead and saw Maduro and his wife flown to New York for trial on drug trafficking charges.

Burgum, who held talks with interim president Delcy Rodriguez during a two-day trip, said dozens of companies had expressed interest in investing in Venezuela.

He told reporters his meetings were "fantastically positive."

Venezuela is rich in minerals such as gold and diamonds, as well as bauxite, coltan and other rare materials used to make computers and mobile phones.

Mining activity is concentrated in a territory known as the Orinoco Mining Arc, where armed groups are active.

"I think you're going to see this government very concerned about providing the right kind of security," Burgum said.

His visit follows that of US Energy Secretary Chris Wright, who pushed for a "dramatic increase" in Venezuela's oil output and talked up "tremendous opportunities" for both Washington and Caracas.

The enthusiastic assessments of both men, which echo Trump's stance, reflect the sea change in relations between Washington and Caracas since the capture of Maduro.

Trump has allowed Maduro's vice president, Rodriguez, to move up to interim leader so long as she grants US access to Venezuela's natural resources.

The US State Department's announcement Thursday that it will restore diplomatic relations with Venezuela was a further sign of thawing relations after Maduro's ouster.

"The United States and Venezuela's interim authorities have agreed to re-establish diplomatic and consular relations. This step will facilitate our joint efforts to promote stability, support economic recovery, and advance political reconciliation in Venezuela," the State Department said.

"Our engagement is focused on helping the Venezuelan people move forward through a phased process that creates the conditions for a peaceful transition to a democratically elected government."

D.Philippon--CPN