US and Venezuela are negotiating a second aluminum cargo shipment to the US, marking a symbolic trade revival after years of diplomatic disruption. Trading house Mercuria Energy Group and private mining investors Heeney Capital are in talks with Venezuelan officials. Terms will likely mirror the 15,000 metric-ton cargo that arrived in New Orleans in late September, with the new shipment expected to depart by year-end.
These discussions follow the reestablishment of commercial ties since the US captured former President Nicolas Maduro in January. On Monday, Venezuela's Foreign Minister Oliver Blanco met with Secretary of State Marco Rubio and Treasury Secretary Scott Bessent in Washington. Aluminum, used in cars and beer cans, is on the US critical minerals list as the Trump administration strengthens Western supply chains.
While Venalum shipments are small, they deepen US corporate interest in Venezuela's mining sector. This highlights a tension in Trump's metals agenda: facilitating Venezuelan imports while using tariffs to protect US producers. Mercuria and New York-based Heeney are negotiating to operate the state-owned Venalum smelter.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing