Mercuria Energy Group said on Friday it had secured, in partnership with Heeney Capital, strategic offtake agreements for Venezuelan bulk commodities and gold projects, as part of a White House-supported initiative.
The energy and commodities trader said the agreements, backed by related investment commitments, are expected to unlock about $2.2 billion in annual mineral export value.
The deals were advanced alongside a delegation of US government officials and industry participants that visited Caracas to facilitate investment frameworks and supply agreements in oil and mining, Mercuria said.
The transactions aim to “support responsible foreign investment in Venezuela’s extractive industries and prioritize supply to Western markets,” it added.
Mercuria and Heeney Capital are also pursuing additional opportunities across aluminum, nickel and ferrous products, which could represent a further $3 billion in annual mineral export value.
(By Dharna Bafna; Editing by Tasim Zahid)
