Glencore, Peabody Energy and investment firm Heeney Capital are weighing deals to produce coal in Venezuela, Bloomberg News reported .
Glencore and Peabody are working together on a possible bid for assets in Zulia state, while Heeney is pursuing a separate potential bid with Alabama-based miner Drummond Co, according to the report, which cited people familiar with the matter.
The discussions between Venezuela and the companies have focused on operational control and off-take rights rather than outright ownership of the mines, the report said.
Glencore declined to comment on the report, while Peabody Energy, Heeney Capital and Drummond did not immediately respond to Reuters’ requests for comment.
The Trump administration is seeking greater US access to Venezuela‘s minerals, expanding its push to gain control and influence over the South American country’s vast natural resources beyond oil, Reuters had reported earlier this month.