Gold Reserve aims to retake Venezuela assets after Maduro’s Fall

Gold Reserve Ltd., which has spent years fighting with Nicolas Maduro’s government over two gold deposits seized by Venezuela. Now that the US has captured Maduro– the country’s leader –he mining company sees a path to regain those prized assets.

Paul Rivett, the company’s vice-chair, says he fielded numerous calls from mining companies over the weekend expressing interest in the deposits. Already, Rivett said he’s exploring deals that could help develop them under a new Venezuelan government.

Venezuela sits atop some of the Western Hemisphere’s largest gold deposits, but the Maduro administration struggled to develop them. Most of the country’s operating mines are dominated by criminal cartels and Chinese firms. Gold Reserve’s two former projects are presently run by the Cartel de los Soles — a US-designated narco-terrorist organization — using Chinese technology, according to the company.