After years of legal battle with the Maduro government over two gold mines confiscated in Venezuela, the small mining company Gold Reserve saw hope of recovering these core assets as the US military arrested the leader last Saturday. The company operated two gold and copper mines, Brisas and Siembra Minera, but they were confiscated by the Venezuelan government in the 2000s and 2010s. Among them, the confiscated Brisas deposit holds about 10 million ounces of gold bars, worth about US$44.4 billion based on Monday's gold prices. The company's vice chairman Paul Rivett said he received phone calls from many mining companies over the weekend expressing interest in these deposits. Rivett said he is already exploring related deals to help develop these resources under the new Venezuelan government. The company's early actions suggest that mining and resource investors have begun testing the country's rich mineral borders after a drastic change in Venezuela's political landscape over the weekend.

After years of legal battle with the Maduro government over two gold mines confiscated in Venezuela, the small mining company Gold Reserve saw hope of recovering these core assets as the US military arrested the leader last Saturday. The company operated two gold and copper mines, Brisas and Siembra Minera, but they were confiscated by the Venezuelan government in the 2000s and 2010s. Among them, the confiscated Brisas deposit holds about 10 million ounces of gold bars, worth about US$44.4 billion based on Monday's gold prices. The company's vice chairman Paul Rivett said he received phone calls from many mining companies over the weekend expressing interest in these deposits. Rivett said he is already exploring related deals to help develop these resources under the new Venezuelan government. The company's early actions suggest that mining and resource investors have begun testing the country's rich mineral borders after a drastic change in Venezuela's political landscape over the weekend.