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Venezuela’s Minerven Signs Gold Export Deal with Trafigura Worth Hundreds of Millions

Venezuela’s Minerven Signs Gold Export Deal with Trafigura Worth Hundreds of Millions

The state miner plans to sell up to 1,000 kilograms of 98% pure gold to U.S. markets, with U.S. Interior Secretary Doug Burgum visiting Venezuela for energy and mining discussions.

Fact Check
The statement is accurately supported by multiple high-authority news outlets including Bloomberg and Politico. These sources confirm that Venezuela's state-owned miner Minerven signed a deal with Trafigura to export between 650 and 1,000 kg of gold. The reports also confirm the context of U.S. Interior Secretary Doug Burgum's visit to Venezuela to discuss energy and mining cooperation under the Trump administration in March 2026.
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Summary

Venezuela’s state-owned mining company Minerven has entered into a gold export agreement with commodity trader Trafigura valued at hundreds of millions of dollars. The deal includes the sale of up to 1,000 kilograms of gold bars with 98% purity, each kilogram priced at approximately $166,000. According to reports, U.S. Interior Secretary Doug Burgum visited Venezuela to explore potential collaboration in energy and mining sectors. The agreement underscores Venezuela’s effort to leverage its mineral resources for foreign revenue and renew ties with international markets amid ongoing economic challenges.

Terms & Concepts
  • Trafigura: A multinational commodity trading company based in Singapore, dealing in metals and energy products worldwide.
  • Gold Purity (98%): Indicates the percentage of pure gold content in an alloy; 98% purity equals nearly 23.5 karats.
  • Minerven: Venezuela’s state-owned mining enterprise, primarily responsible for managing and exporting the nation’s gold production.