May 1, 2026
Willkie is representing Heeney Capital in connection with offtake arrangements and associated investment across Venezuelan bulk commodities and gold projects, in conjunction with Mercuria.
Heeney Capital, in conjunction with Mercuria, has secured offtake arrangements across Venezuelan bulk commodities and gold projects. These arrangements, supported by associated investment, are expected to unlock approximately US$2.2 billion in annual mineral export value, a tangible signal of U.S. commitment to improving economic conditions in and the development of Venezuela.
This landmark engagement required the Willkie team to navigate a highly complex sanctions landscape, securing critical authorizations from the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) under extraordinary time pressure. This process demanded meticulous coordination with U.S. government authorities and deep fluency in the evolving Venezuela sanctions regime, given the breadth and sensitivity of U.S. sanctions on Venezuela. The team worked on a highly compressed timeline to secure the necessary authorizations, ensuring that the commercial and geopolitical momentum behind the deal was not lost and that all parties could proceed with confidence in full compliance with U.S. law. The Willkie team's ability to deliver timely OFAC authorizations in this context reflects the firm's market-leading sanctions and export controls capability, and was instrumental in enabling the parties to move forward on a transaction of considerable national and commercial significance.
Heeney and Mercuria are focused on developing and investing in Venezuela's mining sector to strengthen America's critical materials supply chains, with more deals in Aluminum, Nickel, and Ferrous products to follow, representing a further US$3.0 billion in annual mineral export value, pending regulatory approval.
The Willkie team was led by partners Britt Mosman and Brad Honeycutt, with counsel David Levine and Emerson W. Girardeau, III.
