President Donald Trump says US companies will now have access to Venezuela’s vast oil reserves. But the country’s other commodities have also caught his administration’s attention.
Venezuela has unverified amounts of minerals, metals and potentially rare earth elements, experts say. These raw materials are indispensable for industries from defense to technology, and the administration has repeatedly stressed their importance for US national security.
But while Washington might aspire to secure Venezuela’s critical elements, it’s a tall order, experts say, and wouldn’t do much to bolster America’s supply chain.
The quantity and economic viability of Venezuela’s mineral resources are uncertain. Companies also face major risks mining in Venezuela without sustained security guarantees.
Many of these regions have guerrilla soldiers and armed groups engaging in illegal gold mining, experts say. Energy-intensive rare earths mining can also harm the environment.
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