Mercuria Energy Group has signed a series of strategic offtake agreements with Heeney Capital for bulk commodities and gold projects in Venezuela.
This initiative is part of a broader US administration-backed effort to revitalise the energy and mining sectors.
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Mercuria investments managing director James Gilbert was present at the ceremony, held at Miraflores Palace in Caracas.
These agreements were developed during a visit by a delegation, including US government officials and industry leaders, to Caracas.
The purpose was to establish new investment frameworks and supply agreements in the oil and mining sectors.
The deals, backed by investment commitments, anticipate unlocking about $2.2bn annually in mineral export value.
This initiative reflects growing international efforts to support Venezuela’s economic recovery and strengthen supply chains for critical materials. The transactions also align with US strategies to encourage responsible foreign investment in Venezuela’s extractive industries and to develop offtake arrangements that benefit Western markets.
Mercuria and Heeney Capital aim to bolster Venezuela’s mining sector to enhance supply security for essential industrial materials.
Following the initial agreements, the partners are actively exploring further opportunities in aluminium, nickel, and ferrous products.
Pending regulatory approvals, these potential transactions could add another $3bn annually in mineral export value, enhancing Venezuela’s position as a key supplier of essential materials to the global industry.
Mercuria said: “Mercuria is committed to developing reliable, transparent, and sustainable supply chains for critical materials.
“Our partnership with Heeney Capital in Venezuela reflects our long-term approach to investing in resource development that delivers value both locally and globally.”
Swiss commodity trading firm Mercuria is an independent group in energy and commodities, operating globally across various energy, metals, and power markets, with an increasing emphasis on energy security and critical minerals.
