U.S. Secretary of the Interior Doug Burgum at the S&P Global Conference CERAWeek on Wednesday, March 25, 2026 in Houston, Texas.
F. Carter Smith | Bloomberg | Getty Images
HOUSTON — Interior Secretary Doug Burgum said Wednesday that the United States recently brought back $100 million in gold from Venezuela.
Earlier this month, Burgum visited Venezuela with oil and mining executives and met with interim President Delcy Rodríguez.
“There has been no precious metals transportation between Venezuela and the United States for over 20 years,” Burgum told energy executives at S&P Global’s CERAWeek conference in Houston.
“At the end of the two days, we were able to bring home $100 million in gold. Physical gold,” the Interior Secretary said. He said U.S. refiners will use the gold for commercial and consumer purposes.
The United States captured former Venezuelan President Nicolas Maduro in a military raid in January, leaving the rest of his government largely intact. The Trump administration has worked closely with Vice President Rodríguez under Maduro.
The interior secretary said he spoke with Rodriguez for 10 hours during his visit.
President Donald Trump is pressuring U.S. oil and gas executives to invest in Venezuela’s energy sector. The South American country is believed to have the world’s largest oil reserves.
minerals and metals
But Burgum said that beyond oil, the United States sees great opportunities to develop Venezuela’s mineral and precious metal resources. The country also has vast coal resources, including important minerals.
“Mining opportunities are a completely collapsing industry in Venezuela, and they know it. It’s because of the artisanal miners, who are controlled by gangs and have probably the worst environmental practices in the world,” Burgum said.
“They want a clean environment, they want modern investments, they want growth in their country,” the interior minister said of the Rodriguez government.
Venezuelan opposition leader Maria Colina Machado addressed oil and gas company executives in Houston on Tuesday. Her role in Venezuela’s future remains unclear as the Trump administration works with Rodriguez.
In his remarks, Machado called for the full privatization of Venezuela’s oil industry. He said it would take at least nine months to create the conditions for free and fair elections in Venezuela.
