Full Breakdown
Trump-Linked Executives Target Cuban Mining Ventures After U.S. Sanctions
By Drooid · · How we work
Core Development
A group of businessmen with close ties to former President Donald Trump are moving to acquire a Cuban nickel-and-cobalt mining joint venture that became available after U.S. sanctions forced the exit of foreign operators. Ray Washburne—organizer of the recent Republican midterm convention in Dallas and former vice chair of Trump’s 2016 Victory Committee—and oil executive Albert Huddleston are among those pursuing the asset.
Background and Recent Corporate Withdrawals
In May, a Trump administration executive order expelled Canadian miner Sherritt International from its Cuban operations. The following month, Australian firm Antilles Gold Ltd. halted its Cuban activities under the same sanctions. Antilles Gold subsequently received White House approval to transfer its stake in a Cuban copper-gold mine to the New York-based investment fund Global Emerging Markets.
Key Players and New Partnerships
The Trump-linked executives have traveled to Cuba under the name Dominari Holdings. While there, they met with Raúl Guillermo Rodríguez Castro, the grandson of former Cuban President Raúl Castro, to explore business opportunities. Their presence follows the recent departure of two major Spanish hotel chains—Meliá and Iberostar—from the island, creating a potential vacuum in tourism-related investments. Notably, the Trump Organization registered its trademark in Cuba back in 2008, indicating a longstanding interest in the market.
Potential Economic Impact
If the acquisition proceeds, the United States-linked group could control a significant source of nickel and cobalt—critical metals for electric-vehicle batteries—within a country that has been largely isolated from Western investment. The move may also signal a broader strategy to fill gaps left by departing foreign firms in both the mining and hospitality sectors.
Official Outlook
No formal response from the Cuban government or the Trump Organization has been reported. The White House’s approval of the Antilles Gold stake transfer suggests continued U.S. policy support for limiting non-U.S. firms’ involvement in Cuban resource projects, while the business community watches for further developments under the Dominari Holdings initiative.
