GL 54
GL 54 — Mining Sector (Gold and Non-Precious Minerals)
Issued
Mar 27, 2026
Expiration
No expiration
Authorized entity
Operadores mineros internacionales
Type
General
Regulation
31 CFR part 591 (VSR)
Executive orders
E.O. 14373 (9-ene-2026)
Signatory
Bradley T. Smith, Director, OFAC
Signed
Mar 27, 2026
Scope
Authorizes operations in the Venezuelan mining sector including coltan, iron, bauxite, and gold outside the Orinoco Mining Arc.
Authorized parties
Authorized activities
- ·Operación minera con due diligence ESG
- ·Exportación de minerales certificados
Prohibited activities
- ·Operaciones en el Arco Minero del Orinoco con riesgo ambiental no mitigado
Conditions
- ·El contrato debe regirse por la ley de EE.UU. y las disputas resolverse en EE.UU.
- ·Pagos a personas bloqueadas (salvo impuestos, permisos o tasas locales) al Foreign Government Deposit Funds (E.O. 14373)
Excluded jurisdictions
Reporting obligation
Reporte detallado a Sanctions_inbox@state.gov y ofac_intake@doi.gov: dentro de 10 días tras la primera transacción y cada 90 días mientras continúen (partes, bienes/tecnología/software/servicios con cantidades y valores, fechas, pagos al Gobierno de Venezuela).
VENE · ECONOMIST Analysis
- Fact
- GL 54 (27 de marzo de 2026) reabre legalmente el sector minero VE para inversión internacional, excluyendo deliberadamente al Arco Minero del Orinoco.
- Implication
- CVG (Corporación Venezolana de Guayana) puede recapitalizarse con socios técnicos internacionales. Sectores hierro/bauxita/coltán no-Arco Minero ganan ventana de re-engagement.
- Indicator to monitor
- Anuncios CVG con majors mineros (Glencore, Anglo, Vale). Volumen exportación coltán certificado.
Official license textShow
General License No. 54 — Authorizing the Supply of Certain Items and Services for Minerals Operations in Venezuela
(a) Except as provided in paragraph (b), all transactions prohibited by the VSR — including those involving the Government of Venezuela, Minerven, or "Minerven Entities" — that are ordinarily incident and necessary to the provision from the United States or by a U.S. person of goods, technology, software, or services for the exploration, development, mining, extraction, processing, refining, or production of minerals, including gold, in Venezuela are authorized, provided that: (1) any contract specifies U.S. law governs and dispute resolution occurs in the U.S.; and (2) any payment to a blocked person (excluding local taxes, permits, or fees) is made into the Foreign Government Deposit Funds (E.O. 14373).
Note 1. Authorized transactions include processing of payments and shipping/logistics; and the maintenance of minerals operations, including refurbishment or repair of related items.
Note 2. See GL 30B for port and airport operations.
(b) This general license does not authorize: (1) non-commercially-reasonable terms, debt swaps, gold, or crypto/petro; (2) transactions involving Russia, Iran, North Korea, Cuba, China persons or a joint venture with such persons; (3) unblocking of VSR-blocked property; (4) any transaction involving a blocked vessel; or (5) the formation of new joint ventures or entities in Venezuela to explore, develop, mine, extract, process, refine, or produce minerals, including gold.
(c) Reporting to Sanctions_inbox@state.gov and ofac_intake@doi.gov. (d) Reports due ten days after the first transaction and every 90 days thereafter.
Bradley T. Smith — Director, OFAC. Dated: March 27, 2026.
Official source
This summary does not constitute legal advice. The final determination of scope and applicability of any OFAC license requires consultation with qualified legal counsel and review of the official text published by the Office of Foreign Assets Control. VENE · ECONOMIST maintains this page as editorial reference for institutional investors.
Tracking this license?
Get the OFAC Monthly Tracker
Monthly PDF with all changes.