Mercuria, Glencore in Talks to Operate Venezuela's Venalum Aluminum Smelter

Commodity traders Mercuria and Glencore are negotiating to operate Venalum, Venezuela's state-owned aluminum smelter, which has suffered years of production decline. The deal structure is unclear, but if concluded, it would mark a significant entry of major commodity operators into Venezuela's deteriorating industrial sector. This signals potential foreign investment in Venezuela's energy-intensive industries amid ongoing economic challenges.