Burgum said Venezuela’s government gave security assurances to mining companies interested in investing in the country, where mineral-rich areas have long been controlled by guerrilla members, gangs and other illegal groups.
Under the license, people and companies from Russia, Iran, North Korea and Cuba are not authorized to engage in any contracts with Minerven
The Trump administration seeks to defend against China’s hold on critical minerals, some of which are abundant in Venezuela. The license seeks to advance the administration's plan to turn around the long-troubled country following the capture by U.S. forces of then-President Nicolás Maduro two months ago.
On another natural-resources front, the U.S. moved recently to take legal ownership of a sanctioned tanker and nearly 2 million barrels of petroleum seized off the coast of Venezuela in December. In January, Rodríguez signed a law that opened Venezuela’s oil sector to privatization.
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Garcia Cano reported from Caracas, Venezuela.