|
Colombia MINING AND ENERGY
Mining in Colombia began in the 1500s. Although
significant in
the colonial economy, it never commanded a large portion
of
Colombia's GDP in modern times. With the discovery and
exploitation
of large coal reserves, however, the role of mining in the
national
economy expanded in the late 1980s. Precious metal and
stone mining
was still carried out in the late 1980s. Gold was the most
important metal in terms of short-term revenues. Other
important
metals included platinum and silver, which were extracted
in much
smaller quantities. Colombia also produced 95 percent of
the
world's emeralds (see
table 10, Appendix).
Other metals common to Colombia included nickel, small
amounts
of iron ore, copper, and bauxite. Nickel deposits,
estimated at 25
million tons, were exploited through a joint venture
program
between the government and a subsidiary of Shell Oil
Company.
Nonmetallic mining produced salt, limestone, sulfur,
gypsum,
dolomite, barite, feldspar, clay, magnetite, mica, talcum,
and
marble. Despite the variety of minerals available for
exploitation,
Colombia still had to import substances such as iron,
copper, and
aluminum to meet its industrial needs.
Government efforts to expand mining in Colombia were
needed to
encourage private sector investment. In the late 1980s,
much of
Colombia remained inadequately charted, and reserve
estimates were
considered only marginally reliable. The government set a
policy of
developing infrastructure (roads, electricity, and
communications),
providing technical assistance, and encouraging sound
credit and
legal policies to minimize problems with land titling.
Through
joint ventures and the promotion of small mining
companies,
government officials believed that the mining sector could
contribute more to national employment, income, and
wealth.
Data as of December 1988
|
