March 5 (Reuters) – Venezuela’s state-owned mining company has signed a multimillion-dollar deal to sell as much as 1,000 kg of gold dore bars to commodities trader Trafigura for U.S. markets, Axios reported on Wednesday, citing two sources familiar with the deal. The deal requires Venezuelan mining company Minerven to furnish 650 to 1,000 kg […]
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Trafigura, Venezuelan mining firm sign deal for up to 1,000 kg of gold, Axios reports
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March 5 (Reuters) – Venezuela’s state-owned mining company has signed a multimillion-dollar deal to sell as much as 1,000 kg of gold dore bars to commodities trader Trafigura for U.S. markets, Axios reported on Wednesday, citing two sources familiar with the deal.
The deal requires Venezuelan mining company Minerven to furnish 650 to 1,000 kg of gold dore bars to Trafigura, Axios reported, adding that Trafigura will ship the gold to refineries under a separate arrangement with the U.S. government.
A White House official confirmed the deal in a statement to Reuters, saying that U.S. Interior Secretary Doug Burgum, who arrived in Venezuela on Wednesday, helped secure it.
“This historic gold deal between Trafi and Venezuela had been in the works at President Trump’s direction,” the official said. “We are helping Venezuela restore their mining sector, which will help American industry get the minerals we need.”
The official didn’t provide specific details of the terms of the agreement.
(Reporting by Ismail Shakil; Editing by Christian Schmollinger and Mark Porter)