US firm Heeney Capital to operate Venezuela gold mine, Continental seeks to enter oil project
US firm Heeney Capital has secured 30-year operational and export rights for the El Callao gold mine in Venezuela. The deal was signed under Venezuela's Organic Mining Law and with OFAC's License 51D, allowing for the sale of gold. Separately, Continental Resources is set to explore business opportunities in a large Venezuelan oil area. These agreements follow a push by Washington to encourage US investment in Venezuela's commodity sector.
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- ✓ Heeney Capital signed a 30-year concession for the El Callao gold mine.
- ✓ The concession was signed under Venezuela's Organic Mining Law.
- ✓ OFAC's License 51D authorizes the sale of gold from the El Callao mine.
- ✓ Continental Resources is set to explore business opportunities in a large Venezuelan oil area.
What changed
Heeney Capital's 30-year agreement for the El Callao gold mine and Continental Resources' preliminary terms for an oil project were confirmed, providing specifics on the scope of US investment in Venezuela's commodity sector.
Live updates
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Heeney Capital to operate Venezuela gold mine, Continental eyes oil project
US firm Heeney Capital has secured 30-year operational and export rights for the El Callao gold mine in Venezuela. The deal was signed under Venezuela's Organic Mining Law and with OFAC's License 51D, allowing for the sale of gold. Separately, Continental Resources is set to explore business opportunities in a large Venezuelan oil area. These agreements follow a push by Washington to encourage US investment in Venezuela's commodity sector.
Why it matters
These developments signal a shift in Venezuela's economic engagement with the US, following the capture of former President Nicolas Maduro in January. The agreements aim to restore commodity output and exports to the United States. The deals also highlight increased US involvement in Venezuela's mining and oil sectors.
What is confirmed
- Heeney Capital signed a 30-year concession for the El Callao gold mine.
- The concession was signed under Venezuela's Organic Mining Law.
- OFAC's License 51D authorizes the sale of gold from the El Callao mine.
- Continental Resources is set to explore business opportunities in a large Venezuelan oil area.
Still unconfirmed
- Denarius Holding Group announced a long-term investment in the CEMA Oil Field in Anzoategui State via a partnership with Minerosol Group C.A.
What to watch next
- Details on Continental Resources' oil project
- Progress on Denarius Holding Group's investment in the CEMA Oil Field
- Impact of increased US investment on Venezuela's commodity output and exports
confidence 100%Sources used for this update (2)
- veneeconomist.com — El Callao gold, Venezuela: Heeney signed for 30 years what ...
- article.wn.com — Willkie Advises Heeney Capital on Landmark Agreement for Gold ...
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US Firms Secure Gold and Oil Agreements in Venezuela
Venezuelan authorities signed deals Wednesday granting New York-based Heeney Capital operational and export rights for a gold mine. Simultaneously, the government set preliminary terms for US producer Continental Resources to explore business opportunities in a large oil area. Denarius Holding Group also announced a long-term investment in the CEMA Oil Field in Anzoategui State via a partnership with Minerosol Group C.A. These moves follow the January capture of former President Nicolas Maduro, as Washington encourages US investment to restore commodity output and exports to the United States.
Why it matters
The US government is prioritizing energy and mining capital to reanimate Venezuelan production. This shift follows a change in leadership and a strategic push to increase shipments of crude and gold to US markets.
What is confirmed
- Heeney Capital received operational and export rights for a gold mine.
- Continental Resources established preliminary terms to seek opportunities in a large oil area.
- Denarius Holding Group announced a long-term investment in the CEMA Oil Field in Anzoategui State.
- The US government is encouraging investment in Venezuela after the capture of President Nicolas Maduro in January.
Still unconfirmed
- Exxon is in talks to return to the Orinoco Belt.
What to watch next
- Details on the specific volume of gold and oil exports destined for the US.
confidence 90%Sources used for this update (9)
- cnbc.com — Continental Resources to develop massive oil patch in Venezuela
- Reuters — US energy producer to unveil Venezuela investment, energy secretary says
- The New York Times — Trump Ally Harold Hamm Strikes Venezuela Oil Deal
- wsj.com — Exclusive | Exxon Is Nearing a Preliminary Deal to Invest in Venezuela’s Oil Fields
- Bloomberg.com — Exxon Is in Talks to Return to Venezuela as US Deals Accelerate
- Reuters — Exxon advances talks to return to Venezuela's Orinoco Belt, sources say
- www.miningweekly.com — US firm Heeney Capital to operate Venezuela gold mine, Continental seeks to enter oil project
- www.arkansasonline.com — US firm to operate mine in Venezuela
- finance.yahoo.com — Denarius Holding Group Announces Long-Term Investment in Venezuela's CEMA Oil Field
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