The news of a U.S. military operation in Venezuela, leading to the arrest of President Nicolas Maduro and his wife Cilia Flores, has once again escalated global tensions. Notably, with Maduro's arrest, the U.S. openly declared its direct intervention in Venezuela's oil sector, causing ripples in the global energy market. However, is it only about oil, or are there other treasures in Venezuela that have caught Trump's eye? Indeed, Venezuela not only stands upon vast oil reserves but also a wealth of gold.
Understanding Trump's Strategic Statement
Venezuela is known to hold the world's largest oil reserves, and the U.S. has considerably bet on it. Following recent military developments, Venezuela's President Nicolas Maduro was taken into custody. During this time, Donald Trump mentioned that U.S. oil companies will enter Venezuela, investing billions to revitalize the severely damaged oil infrastructure and initiate massive production. This implies U.S. command over Venezuela's oil.
Trump has been explicit that they aim to shed light on the oil business, with major American oil enterprises entering, expending billions, and reaping profits. He also said that the revenues derived from Venezuela's resources will be substantial, reflecting a return on any investments made.
Source: aajtak
Venezuela Holds 303 Billion Barrels of Oil
U.S. President Donald Trump's interest in Venezuela's oil reserves is evident, underscored by the arrest of Nicolas Maduro as a prelude to Washington's strong participation in the country's oil sector, marking a pivotal shift in U.S. policy toward Venezuela's energy treasures. Venezuela is home to the world's largest crude oil reserve, estimated at about 303 billion barrels, with a value pegged at approximately $17.3 trillion at current prices ($57 per barrel).
Geographically, Venezuela stretches from the Andes Mountains in the west to the vast Orinoco River Basin in the east and the ancient Guiana Shield to the southeast, covering over 415,000 square kilometers of Precambrian rocks. The Orinoco Belt, a southern belt spanning 55,000 square kilometers along with the eastern Orinoco Basin, holds an estimated additional 1.2 trillion barrels of heavy crude oil, equating to global conventional oil reserves.
Venezuela's Golden Treasure Trove
Amid the corruption and drug trafficking allegations, Venezuela harbors significant mineral deposits beyond oil, including substantial gold reserves. The southern regions, covered by jungles and rugged terrain, are ideal for alluvial gold mining.
Source: aajtak
The Guiana Shield houses the Archean Imataca Complex gneiss and Proterozoic greenstone belts, containing low-sulfide gold quartz veins. These naturally occurring rocks consist of a blend of gold and quartz minerals, featuring thin or thick gold streaks between quartz layers, considered a rare form of natural gold, reaching purity of 70% to 95%.
The region also boasts shear-zone and placer gold deposits, with a total minable reserve exceeding 10,000 tons. Reports suggest over 200 gold sites within metavolcanic and metasedimentary complexes, holding capacities up to 8,000 metric tons. Furthermore, deposits like Choco 10 in Bolivar State exemplify Venezuela's status as a gold treasure trove.
Reservoir of Blue Gold and Other Rare Earth Elements
The Venezuelan Guiana Shield, one of Earth's oldest continental areas, is rich in tin, tungsten, tantalum, and rare earth metals. Previous reports by The Guardian, citing an anonymous source, mention visible distinctions between tin and coltan fragments here.
Source: aajtak
Coltan, or blue gold, has notable deposits within Venezuela, a fact championed by former President Hugo Chavez, who deployed 15,000 National Guards near the Colombian border to safeguard these reserves during his tenure. In 2016, three years post-Chavez's demise, his successor, Nicolas Maduro, signed the Orinoco mining arc decree, earmarking 43,243 square miles (112,000 square km) for mining, including areas designated for coltan extraction.
Motives Behind U.S. Actions
Recent U.S. actions targeting Caracas amid increasing drug trafficking tensions and sanctions on Venezuelan oil tankers suggest broader objectives. Experts believe that beyond oil, the U.S. aims to gain influence over Venezuelan gold reserves and simultaneously curtail Chinese and Russian sway in the region.
