Venezuela to resume aluminum shipments to the United States

Venezuela is preparing to ship approximately 15,000 metric tons of aluminum to the United States, marking the first such shipment in several years. The cargo, produced by the state-owned smelter Venalum, is expected to depart as early as September 18.

The shipment is part of a broader minerals and metals partnership involving commodities trader Mercuria Energy Group and investment firm Heeney Capital. Offtake agreements signed in May are valued at roughly $2.2 billion annually for Venezuelan minerals and gold, with potential additional deals for nickel and ferrous products that could add another $3 billion in annual export value.

The operation relies on authorizations from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to navigate existing sanctions. This move follows a U.S. government and industry delegation visit to Caracas in early 2026 aimed at engaging with Venezuela’s political landscape.

Venalum, located in Bolívar state, currently operates at less than 25% of its 430,000-metric-ton annual capacity due to chronic power shortages, infrastructure collapse, and long-term underinvestment. The shipment is estimated to be worth approximately $50 million at current market prices.