Business

Doug Burgum lands in Venezuela for rare earth minerals talks with officials

Published

2 months ago

4 March 2026

Doug Burgum lands in Venezuela for rare earth minerals talks with officials

FOX Business’ Edward Lawrence travels with U.S. Interior Secretary Doug Burgum to Venezuela as he looks to create rare earth mineral mining business partnerships.

Interior Secretary Doug Burgum landed in Venezuela on Wednesday to begin talks about a potential rare earth minerals partnership, just weeks after the U.S. arrested former Venezuelan President Nicolás Maduro.

FOX Business exclusively joined Burgum on the trip. President Donald Trump‘s administration views Venezuela’s untapped resources as a potential alternative to relying on China for critical minerals, FOX Business has learned.

While in Venezuela, Burgum will also help expand the relationship between U.S. oil companies and the Venezuelan government. The secretary will meet with the current Venezuelan President Delcy Rodríguez to continue the growing relationship between the two countries.

Burgum is the first member of Trump’s Cabinet to leave the country since the U.S. launched Operation Epic Fury against Iran on Saturday.

WHITE HOUSE SAYS US WILL SHAPE VENEZUELA’S FUTURE AS TRUMP EMBRACES ‘AMERICAN DOMINANCE’

President Donald Trump listens as Interior Secretary Doug Burgum speaks and gestures with his hands in the Oval Office

Interior Sec. Doug Burgum landed in Venezuela on Wednesday to begin talks about a potential rare earth minerals partnership, just weeks after the U.S. arrested former Venezuelan President Nicolás Maduro. (Reuters/Kent Nishimura / Reuters Photos)

Burgum’s visit comes weeks after the Trump administration completed its first sale of Venezuelan oil, valued at $500 million.

The deal came after Trump announced interim authorities in Venezuela would be turning over between 30 million and 50 million barrels of sanctioned oil to the U.S., worth about $2.8 billion at current market prices.

Energy Secretary Chris Wright said the U.S. government would oversee the sale of the oil and proceeds would be deposited into accounts controlled by Washington.

TRUMP ADMINISTRATION EASES SANCTIONS ON VENEZUELAN OIL INDUSTRY AFTER MADURO’S CAPTURE

FOX Business’ Edward Lawrence speaks with U.S. Interior Secretary Doug Burgum in Venezuela about easing oil prices and rare earth minerals during an exclusive interview.

“President [Donald] Trump brokered a historic energy deal with Venezuela, immediately following the arrest of narcoterrorist Nicolás Maduro, that will benefit the American and Venezuelan people,” White House spokeswoman Taylor Rogers wrote in a statement to Fox News in February.

“President Trump’s team is facilitating positive, ongoing discussions with oil companies that are ready and willing to make unprecedented investments to restore Venezuela’s oil infrastructure,” she continued. “President Trump is protecting our Western Hemisphere from being taken advantage of by narcoterrorists, drug traffickers, and foreign adversaries.”

Venezuela holds more than 300 billion barrels of proven oil reserves, nearly quadruple those of the U.S.

President Trump speaks during White House press briefing.

President Donald Trump has begun selling Venezuelan oil. (Kevin Dietsch/Getty Images / Getty Images)

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Though the country in the late 1990s was capable of pumping about 3.5 million barrels a day, mismanagement, corruption and the rising cost of extraction caused production to fall to roughly 800,000 barrels a day, according to energy analytics firm Kpler.

Fox Business’ Ed Lawrence contributed to this report.

Business

US military says it killed three people in latest Caribbean boat strike

Published

2 minutes ago

20 April 2026

NewsAdmin

US military says it killed three people in latest Caribbean boat strike

Business

Gold prices dip as Iran tensions re-emerge, oil prices jump

Published

10 minutes ago

20 April 2026

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Gold prices dip as Iran tensions re-emerge, oil prices jump

Business

Schools to get $2.1b in pre-budget splash

Published

17 minutes ago

20 April 2026

NewsAdmin

Schools to get $2.1b in pre-budget splash

More than $2.1 billion has been committed to state school infrastructure funding ahead of the May budget.

Business

WA govt splashes $3.8m to keep food relief services running

Published

24 minutes ago

20 April 2026

NewsAdmin

WA govt splashes $3.8m to keep food relief services running

A WA government cash injection will keep vital food relief delivery trucks on the road as demand for their services ramps up due to rising fuel bills.

Business

Concurrent Technologies Plc (COTGF) Discusses Full Year Results and Leadership Transition with Strategic Business Updates Transcript

Published

31 minutes ago

20 April 2026

NewsAdmin

OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Concurrent Technologies Plc (COTGF) Discusses Full Year Results and Leadership Transition with Strategic Business Updates April 17, 2026 6:30 AM EDT

Company Participants

Miles Adcock – CEO & Executive Director
Kim Maria Garrod – CFO & Executive Director

Presentation

Operator

Good morning, and welcome to the Concurrent Technologies Plc Final Results Investor Presentation. [Operator Instructions]

Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, Miles Adcock. Good morning to you.

Miles Adcock
CEO & Executive Director

Good morning, and welcome to our full year results for 2025.

Next slide, please. So my name is Miles. I’m the CEO. This is my fourth set of annual results, and I’m joined by Kim, our CFO. And I should note that at the same time as we issued our full year results, we also announced that Kim has decided to retire at the end of this year. My good friend and colleague, Kim, do you want to say a few words?

Kim Maria Garrod
CFO & Executive Director

Yes. So I achieved a milestone birthday this year, and that made me rethink what I was going to do. So I have decided to retire, but I’m in the business until the end of the year. I’m very excited about the business, and I will be watching it very closely after I’ve gone, and I’ll be regularly calling Miles for updates. But I’m fully committed to the business. And as I say, I’ll be taking out for most of this financial year.

Miles Adcock
CEO & Executive Director

Thank you, Kim. And just to note, Kim has generously given us until the end of the year to seek a replacement, and I’ve engaged Korn Ferry this week, and we’re working hard at finding a worthy successor.

Business

World weighs fate of Mideast ceasefire after US seizes Iranian cargo ship

Published

37 minutes ago

20 April 2026

NewsAdmin

World weighs fate of Mideast ceasefire after US seizes Iranian cargo ship

Business

MPLX: A Sound Growth Story Irrespective Of Iran Headlines

Published

44 minutes ago

20 April 2026

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Atmos Energy: A Stable Income Growth Stock In Uncertain Times (NYSE:ATO)

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Business

Budget won't be bonanza for cutting red tape: minister

Published

52 minutes ago

20 April 2026

NewsAdmin

Budget won't be bonanza for cutting red tape: minister

Business groups have urged the government to cut a raft of regulations ahead of the federal budget, but the finance minister says changes have to make sense.

Business

China leaves lending benchmarks unchanged for 11th month in April

Published

58 minutes ago

20 April 2026

NewsAdmin

China leaves lending benchmarks unchanged for 11th month in April

Business

IPOs could raise up to $25 billion in 2026, too, despite D-St caution

Published

1 hour ago

20 April 2026

NewsAdmin

IPOs could raise up to $25 billion in 2026, too, despite D-St caution

Mumbai: A clutch of large IPOs is expected to prop up India’s primary market in 2026 even as market uncertainty slows down broader activity compared to the previous two robust years, said Ranvir Davda, co-head of investment banking at HSBC India.

“The number of deals may come down, but the size and aggregate value may still be similar (to the previous years),” said Davda in an interview.

Reliance Industries’ telecom arm Jio Platforms, National Stock Exchange, Zepto, PhonePe, Manipal Hospitals and and SBI Funds Management are among the large issuances expected to hit the market in 2026. Together, these issues could raise ₹1 lakh crore (about $10.8-10.9 billion).

So far this year, 20 companies have raised $2.5 billion, according to Prime Database and ETIG Database. That comes after two record years that saw 94 and 115 mainboard IPOs in 2024 and 2025, raising nearly $21-23 billion.

This year’s IPO fundraise could be between $21 billion and $25 billion.

“This year, a larger percentage of companies are mid to large-sized,” said Davda. “Many of these are backed by large groups or private equity investors and, therefore, have the flexibility to wait, ride volatility, and avoid pressing forward if valuations are not aligned.”
The early part of this year has been slower for the IPO market, with the West Asia conflict weighing on secondary markets, IPO subscriptions and listing gains, prompting several companies to defer offerings. “This year will be volatile. Windows to complete trades will be shorter, so readiness is critical,” Davda said.

At the same time, companies that need capital are showing more willingness to negotiate.

Issuers are increasingly tapping AIFs, family offices and special situations funds alongside traditional investors, while using pre-IPO placements as a bridge to raise capital with visibility to a listing over the next 6-18 months, he said. According to Davda, technology faces sharper scrutiny amid AI disruption, global uncertainty and profitability concerns, though large consumer-tech and fintech offerings are still likely to proceed as “must-own” India exposures.