Maiquetía, Venezuela - Venezuela and the US are restoring diplomatic ties, the two countries announced Thursday, in a new sign of thawing relations after Washington abducted former president Nicolás Maduro.

The announcement came as Interior Secretary Doug Burgum wrapped up a two-day trip to Venezuela, part of President Donald Trump's push for greater access to the country's mineral wealth.

The re-establishment of diplomatic and consular relations "will facilitate our joint efforts to promote stability, support economic recovery, and advance political reconciliation in Venezuela," the US State Department said.

"Our engagement is focused on helping the Venezuelan people move forward through a phased process that creates the conditions for a peaceful transition to a democratically elected government."

Venezuela's foreign ministry said it would "move forward in a new stage of constructive dialogue, based on mutual respect, the sovereign equality of states and cooperation between our people," adding that the renewed ties would be "positive and mutually beneficial."

The announcement came hours after Burgum, a member of Trump's cabinet who leads the National Energy Dominance Council, said he had received assurances from Caracas that the government would ensure the security of foreign mining companies keen to invest there.