Venezuela Power Shift Unlikely to Revive Mining Sector, BMI Says -- Market Talk

Dow Jones01-07

0924 GMT - A transition of power in Venezuela is unlikely to materially improve the appeal of the country's mining sector over the next decade, BMI analysts say. Venezuela was a major producer of iron ore and bauxite 20 years ago, but the industry has since deteriorated largely due to the nationalization of major mining companies and underinvestment in mining operations and rail infrastructure, according to the firm. "If a government friendly to Washington is installed in Caracas, we would expect the White House to pursue a minerals agreement with Venezuela similar to the one signed with Ukraine," the analysts say. "While such an agreement could give the U.S. preferential access to Venezuelan mineral deposits, reliable geological data is virtually nonexistent, meaning extensive exploration would be required before miners could commit capital." (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

January 07, 2026 04:24 ET (09:24 GMT)

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