Richard Warke
Canadian mining financier
At a glance
Richard Warke is a Canadian mining financier and chairman of the Augusta Group whose Augusta Capital Corp. agreed in 2026 to invest up to US$200 million to help revive Venezuela's Siembra Minera gold project — one of the first large foreign bets on Venezuelan mining in years.
Who is Richard Warke?
Richard William Warke is a Vancouver-based Canadian businessman with more than 40 years in the international resource sector. In 2005 he founded the Augusta Group of companies, which built and sold three major mineral deposits: Ventana Gold (sold for about US$1.3 billion in 2011), Augusta Resource and its Rosemont copper project (about US$667 million in 2014), and Arizona Mining's Hermosa-Taylor deposit (about US$2.1 billion in 2018). He also co-founded Equinox Gold and chairs Titan Mining, Highlander Silver, and Solaris Resources.
Warke matters to Venezuela investors because of a 2026 earn-in agreement between his Augusta Capital Corp. and Gold Reserve Ltd. Under the deal, Augusta Capital can acquire up to a 50% stake in Gold Reserve's interest in Siembra Minera by investing up to US$200 million over four years, including at least US$25 million in the first year. Siembra Minera, in Bolívar State in southeastern Venezuela, is one of Latin America's largest undeveloped gold assets, with Gold Reserve estimating roughly 52 million ounces of gold resources on the broader property.
For foreign investors and compliance teams, the Warke–Gold Reserve alliance is a signal that experienced Western capital is testing a return to Venezuelan mining under the country's evolving mining-law framework. Any such investment still sits inside the U.S. sanctions regime, so the structure, licensing, and OFAC exposure of a Siembra Minera deal are central diligence questions.
Also known as: Richard William Warke.
Career timeline
- 2005 — Founded the Augusta Group of mining companies
- 2011 — Ventana Gold (La Bodega, Colombia) sold for ~US$1.3 billion
- 2014 — Augusta Resource / Rosemont copper (Arizona) sold for ~US$667 million
- 2018 — Arizona Mining / Hermosa-Taylor deposit sold for ~US$2.1 billion
- 2026 — Augusta Capital agreed to invest up to US$200M to earn into Gold Reserve's Siembra Minera gold project in Venezuela
Frequently asked questions
▸ Who is Richard Warke?
▸ What is Richard Warke's connection to Venezuela?
Sources & further reading
Useful tools and explainers
- Browse all active OFAC Venezuela SDN designations — the live US Treasury tracker for individuals, entities, vessels, and aircraft.
- OFAC Venezuela sanctions checker — paste any name to check it against the active SDN list.
- Sector context for Richard Warke's role — regulatory framework, OFAC pathways, and current deal flow.
- How to invest in Venezuela (2026 sanctions-safe guide)
- Browse all Venezuelan power figures
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