GoldRich

Caracas, June 12, 2026 (venezuelanalysis.com) – Venezuela’s Bolivarian National Armed Forces (FANB) have launched a large-scale operation on Tuesday in Bolívar state, one of the country’s main mineral-rich regions in the southeast and also one with a heavy presence of criminal organizations.

Local media outlets and non-governmental organizations reported helicopter overflights, explosions, and the displacements of hundreds of people leaving gold extraction zones in Las Claritas and the area known as Kilometer 88, two key locations within the Orinoco Mining Arc.

According to Bloomberg, the military actions targeted illegal mining operations controlled by armed groups. Former opposition lawmaker for Bolívar state Américo De Grazia claimed that military forces attacked several gold-mining enclaves through aerial bombardments and gunfire.

The Venezuelan government, led by acting President Delcy Rodríguez, and the armed forces have offered no official information regarding the operations, as well as casualties, arrests, or official goals. Rodríguez met with military leaders on Wednesday to discuss a “100-Day Plan” to optimize the functioning of the armed forces but did not comment on the reported Bolívar deployment.

The operation took place in a region where the state has struggled to assert authority in the face of a proliferation of armed groups that control and administer mines, run artisanal mining activities, and regulate economic activity linked to gold extraction.

At the same time, local reports indicated that the military operation could be aimed at capturing Yohan José Romero, known as “Yohan Petrica,” a founding member of the Tren de Aragua criminal outfit, who reportedly operates in the area alongside Juan Gabriel Rivas Núñez, alias “El Negro Juancho,” and a third figure known as “Humbertico.”

Some sources have also not ruled out the presence of Héctor Guerrero, alias “Niño Guerrero,” the top leader of the large-scale criminal group that emerged inside Tocorón prison in Aragua state.

In September 2023, the Venezuelan government deployed “Operation Gran Cacique Guaicaipuro,” with more than 11,000 security personnel, to intervene in Tocorón prison. However, multiple reports indicated that “Niño Guerrero” and other senior gang leaders were warned in advance and escaped through a network of secret tunnels.

Guerrero is currently the subject of an Interpol Red Notice on charges related to transnational organized crime, drug trafficking, money laundering, and arms trafficking. The US State Department is offering a reward of up to US $5 million for information leading to his capture.

For its part, the media platform Miraflores al Momento denied separate reports alleging the presence of US military contingents in El Callao, another major gold-mining area in Bolívar state. Likewise, fact-checking outlets Cazadores de Fake News and CotejoInfo confirmed that images circulating were generated by artificial intelligence.

However, local outlets confirmed that, though without any military presence, US officials and business executives have conducted visits to gold-processing facilities belonging to the state-owned Venezuelan Mining Corporation (Minerven) in El Callao.

Last April, Venezuela approved a new mining law granting expanded incentives for private corporations to exploit gold and other “strategic minerals.” Concessions will last up to 30 years and may be renewed for two additional ten-year periods. The new law 

The legislation additionally introduced provisions for international arbitration in dispute resolution, a safeguard sought by investors, and a reduction of royalties and taxes at the Venezuelan government’s discretion.

Among the companies expressing interest are Canadian firms Gold Reserve and Augusta Capital Corporation, which seek to revive the large-scale gold and strategic minerals project known as “Siembra Minera.” Likewise, Roland Mineral Enterprises Corp. has already begun procedures to explore and develop gold, copper, and silver deposits. Swiss commodities giant Trafigura is also advancing a responsible sourcing program in partnership with state-owned Minerven.

There have additionally been corporate initiatives and feasibility studies by US companies—including mining firms such as Hartree, Peabody Energy, Ivanhoe, and TechMet—to enter the sector, though security concerns reportedly remain an obstacle.

Mining municipalities in southern Venezuela report some of the country’s highest rates of homicide, as well as reports of forced labor and widespread sexual violence. The gold extracting activities are mostly unregulated. According to former opposition lawmaker Américo De Grazia, only the gold processed by Minerven enters official records, while the rest circulates through parallel channels.

Similarly, Transparency Venezuela estimates that just 14 percent of the revenues generated by the gold sector reach the Central Bank and public coffers through royalties and export-related payments.

Edited by Ricardo Vaz in Caracas.