Mining in Venezuela
Encyclopedia
Venezuela
is a major producer and exporter of minerals, notably bauxite
, coal
, gold
, iron ore, and oi
l, and the state controls most of the country’s vast mineral reserves. In 2003 estimated reserves of bauxite totaled 5.2 million tons.
The third largest producer of coal in Latin America, after Colombia
and Brazil
, Venezuela produced 5.8 million short tons (1 short ton=2,000 pounds) in 2002, as compared with 9.3 million short tons in 2000, and exported most of it to other countries in the region, the eastern United States, and Europe. Known reserves for coal total 10.2 billion tons, of which approximately 528 million short tons are recoverable bituminous coal.
The main coalfields are located in the western Zulia State, on the border with Colombia. Other known reserves include natural bitumen (42 billion tons). Exploitable gold reserves, located mostly in the southeast, total an estimated 10,000 tons. In 2003 production totaled 20 million grams (or 20 tons), including 6 million grams attributed to unofficial mining activities, marking a sharp increase from 1999, when only 5.9 million grams were produced. In 2003 Venezuela’s estimated reserves of iron ore totaled 14.6 million tons. Proven reserves total 4.1 billion tons, of which 1.7 billion tons are high-grade. Production has been increasing and totaled a record 19.2 million tons in 2003, two-thirds of which were exported. Iron-ore reserves are concentrated in the southeast.
With 77800000000 barrels (12,369,211,551,000 l) of proven oil
reserves in 2004, Venezuela has the largest proven oil reserves in South America and the sixth largest in the world—more than Canada
, Mexico
, and the United States
combined. Venezuela’s 2002 production of 2800000 oilbbl/d (bbl/d) of crude was a drop of 8.3 percent over 2001 and the country’s lowest production figure since 1994. In 2003, a year in which production was halted for a couple of months by a general strike and further disrupted by the firing of nearly half of the state oil company’s work force, Venezuela's total oil production was an estimated 2600000 oilbbl/d. In 2004 oil production totaled about 3000000 oilbbl/d, according to the government’s estimate. Prior to President Chávez's December 1998 election, Venezuela regularly exceeded its Organization of the Petroleum Exporting Countries (OPEC)-agreed oil production targets. Chávez
has maintained a policy of strict adherence to OPEC quotas and has played a leading role in shifting OPEC from a volume-oriented strategy to one of controlling prices. With planned investments of US$26 billion in oil and natural gas exploration and production between 2004 and 2009, Venezuelan Petroleum expects oil production to reach 5000000 oilbbl/d by 2009.
Venezuela
Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...
is a major producer and exporter of minerals, notably bauxite
Bauxite
Bauxite is an aluminium ore and is the main source of aluminium. This form of rock consists mostly of the minerals gibbsite Al3, boehmite γ-AlO, and diaspore α-AlO, in a mixture with the two iron oxides goethite and hematite, the clay mineral kaolinite, and small amounts of anatase TiO2...
, coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
, gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
, iron ore, and oi
Oi
Oi is a slang interjection used in Britain, Ireland, Australia, Singapore, Malaysia and other countries to get someone's attention or to express surprise or disapproval...
l, and the state controls most of the country’s vast mineral reserves. In 2003 estimated reserves of bauxite totaled 5.2 million tons.
The third largest producer of coal in Latin America, after Colombia
Colombia
Colombia, officially the Republic of Colombia , is a unitary constitutional republic comprising thirty-two departments. The country is located in northwestern South America, bordered to the east by Venezuela and Brazil; to the south by Ecuador and Peru; to the north by the Caribbean Sea; to the...
and Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, Venezuela produced 5.8 million short tons (1 short ton=2,000 pounds) in 2002, as compared with 9.3 million short tons in 2000, and exported most of it to other countries in the region, the eastern United States, and Europe. Known reserves for coal total 10.2 billion tons, of which approximately 528 million short tons are recoverable bituminous coal.
The main coalfields are located in the western Zulia State, on the border with Colombia. Other known reserves include natural bitumen (42 billion tons). Exploitable gold reserves, located mostly in the southeast, total an estimated 10,000 tons. In 2003 production totaled 20 million grams (or 20 tons), including 6 million grams attributed to unofficial mining activities, marking a sharp increase from 1999, when only 5.9 million grams were produced. In 2003 Venezuela’s estimated reserves of iron ore totaled 14.6 million tons. Proven reserves total 4.1 billion tons, of which 1.7 billion tons are high-grade. Production has been increasing and totaled a record 19.2 million tons in 2003, two-thirds of which were exported. Iron-ore reserves are concentrated in the southeast.
With 77800000000 barrels (12,369,211,551,000 l) of proven oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
reserves in 2004, Venezuela has the largest proven oil reserves in South America and the sixth largest in the world—more than Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
combined. Venezuela’s 2002 production of 2800000 oilbbl/d (bbl/d) of crude was a drop of 8.3 percent over 2001 and the country’s lowest production figure since 1994. In 2003, a year in which production was halted for a couple of months by a general strike and further disrupted by the firing of nearly half of the state oil company’s work force, Venezuela's total oil production was an estimated 2600000 oilbbl/d. In 2004 oil production totaled about 3000000 oilbbl/d, according to the government’s estimate. Prior to President Chávez's December 1998 election, Venezuela regularly exceeded its Organization of the Petroleum Exporting Countries (OPEC)-agreed oil production targets. Chávez
Chávez
Chávez or Chavez may refer to:*Hugo Chávez, current president of Venezuela*Chávez *Colegio César Chávez, a college named in honor of labor leader César Chávez*Chavez , an indie rock band in New York in the 1990s...
has maintained a policy of strict adherence to OPEC quotas and has played a leading role in shifting OPEC from a volume-oriented strategy to one of controlling prices. With planned investments of US$26 billion in oil and natural gas exploration and production between 2004 and 2009, Venezuelan Petroleum expects oil production to reach 5000000 oilbbl/d by 2009.