Gold Reserve, other miners receive US license to negotiate Venezuela return

Reuters | March 5, 2026 | 8:13 am Regulatory Issues Latin America USA Gold

Gold Reserves aims to retake Venezuela assets after Maduro’s Fall

Brisas project camp. (Image courtesy of Gold Reserve.)

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

Shares of the company rose nearly 11% in early market trading.

US Interior Secretary Doug Burgum arrived in the South American country on Wednesday with more than two dozen US mining and minerals companies, which he said could represent billions in investment and thousands of high-paying jobs for Venezuela.

Gold Reserve said the delegation met with Venezuelan acting President Delcy Rodriguez to discuss the conditions necessary to enable foreign investment and support the resumption of mining operations in the country.

Venezuela mining reform coming soon, acting president says

The company plans to resume mining in Venezuela, marking a return to the country nearly 17 years after the Venezuelan government seized control of the company’s Brisas gold mine.

The company operated the Brisas gold mine in Venezuela’s Orinoco Arc until 2009.

(By Dharna Bafna; Editing by Shailesh Kuber)