Lifting sanctions on bauxite and other critical minerals, US is set to procure defence valuables

Source: AL Circle Mar 31, 2026 19:00

On March 27, 2026, the US Treasury's OFAC lifted sanctions on Venezuela's minerals sector, comprising bauxite, coltan, gold, diamonds, and other rare earths, enabling US firms to pursue contracts, also with state-owned Minerven, post the capture of Nicolás Maduro. At present, the nation is eyeing to strengthen ties with the interim leader Delcy Rodríguez to have better access to the Venezuelan critical mineral industry, bauxite in particular, for extracting gallium and scandium.

The Venezuelan bauxite scenario Venezuela holds substantial bauxite resources, estimated at 3.48 billion tonnes, with a reserve of 1.33 billion tonnes and a resource base of 2.15 billion tonnes. This is largely concentrated at the Los Pijiguaos mine of Bolívar in the Guayana region, which has a capacity of almost

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