section_path: Economy/Mining
section_name: Mining
paragraph_text: Mining
  
  Mining is one of the most important economic sectors in South America, especially for Chile, Peru and Bolivia, whose economies are highly dependent on this sector. The continent is a large producer of gold (mainly in Peru, Brazil and Argentina); silver (mainly in Peru, Chile, Bolivia and Argentina); copper (mainly in Chile, Peru and Brazil); iron ore (Brazil, Peru and Chile); zinc (Peru, Bolivia and Brazil); molybdenum (Chile and Peru); lithium (Chile, Argentina and Brazil); lead (Peru and Bolivia); bauxite (Brazil); tin (Peru, Bolivia and Brazil); manganese (Brazil); antimony (Bolivia and Ecuador); nickel (Brazil); niobium (Brazil); rhenium (Chile); iodine (Chile), among others.
  
  Brazil stands out in the extraction of iron ore (where it is the second largest producer and exporter in the world – iron ore is usually one of the three export products that generate the greatest value in the country's trade balance), copper, gold, bauxite (one of the five largest producers in the world), manganese (one of the five largest producers in the world), tin (one of the largest producers in the world), niobium (concentrates 98% of reserves known to the world) and nickel. In terms of gemstones, Brazil is the world's largest producer of amethyst, topaz, agate and one of the main producers of tourmaline, emerald, aquamarine, garnet and opal.
  
  Chile contributes about a third of the world copper production. In addition to copper, Chile was, in 2019, the world's largest producer of iodine and rhenium, the second largest producer of lithium and molybdenum, the sixth largest producer of silver, the seventh largest producer of salt, the eighth largest producer of potash, the thirteenth producer of sulfur and the thirteenth producer of iron ore in the world.
  
  In 2019, Peru was the 2nd largest world producer of copper and silver, 8th largest world producer of gold, 3rd largest world producer of lead, 2nd largest world producer of zinc, 4th largest world producer of tin, 5th largest world producer of boron and 4th largest world producer of molybdenum.
  
  In 2019, Bolivia was the 8th largest world producer of silver; 4th largest world producer of boron; 5th largest world producer of antimony; 5th largest world producer of tin; 6th largest world producer of tungsten; 7th largest producer of zinc, and the 8th largest producer of lead.
  
  In 2019, Argentina was the 4th largest world producer of lithium, the 9th largest world producer of silver, the 17th largest world producer of gold and the 7th largest world producer of boron.
  
  Colombia is the world's largest producer of emeralds. In the production of gold, among 2006 and 2017, the country produced 15 tons per year until 2007, when its production increased significantly, breaking a record of 66.1 tons extracted in 2012. In 2017, it extracted 52.2 tons. The country is among the 25 largest gold producers in the world. In the production of silver, in 2017 the country extracted 15,5 tons.
  
  In the production of oil, Brazil was the 10th largest oil producer in the world in 2019, with 2.8 million barrels / day. Venezuela was the 21st largest, with 877 thousand barrels / day and Colombia in 22nd with 886 thousand. As Venezuela and Ecuador consume little oil and export most of their production, they are part of OPEC. Venezuela had a big drop in production after 2015 (where it produced 2.5 million barrels / day), falling in 2018 to 1.4 million and in 2019 to 877 thousand, due to lack of investment.
  
  For natural gas, in 2018, Argentina produced 1524 bcf (billion cubic feet), Venezuela 946, Brazil 877, Bolivia 617, Peru 451, Colombia 379.
  
  In the beginning of 2020, in the production of oil and natural gas, Brazil exceeded 4 million barrels of oil equivalent per day, for the first time. In January 2021, 3.168 million barrels of oil per day and 139 million cubic meters of natural gas were extracted. The continent had 2 of the 30 largest world producers of coal in 2018: Colombia (12th) and Brazil (27th).