Mercuria signs $2.2 billion Venezuelan gold and metals deals
Updated
Updated · Bloomberg · May 1
Mercuria signs $2.2 billion Venezuelan gold and metals deals
10 articles · Updated · Bloomberg · May 1
The Geneva-based trader said the annual agreements were struck with private mining equity group Heeney Capital and cover bulk commodities and metals, including gold.
Mercuria said the offtake deals include accompanying investments and that both companies are actively progressing additional agreements for Venezuelan aluminium, nickel and iron products.
The deals are the latest sign of trading houses brokering investment opportunities in Venezuela following the ouster of former leader Nicolas Maduro.
Can U.S.-backed deals truly secure Venezuela's mines from the armed groups and illegal networks that control them?
As Western companies tap its resources, will Venezuela's wealth finally reach its people or just fuel more corruption?