Mining
There is hardly a precious metal or valuable mineral which does not exist in Venezuela, though little has been done to exploit them. Gold, silver, copper, iron, lead, antimony, tin, quicksilver, asphalt, petroleum, coal, sulphur, asbestos, platinum, diamonds, and other precious stones are found; 25 years ago 226 deposits had been located: 62 gold, 29 coal, 14 copper, 10 iron, etc.
Gold, the most exported metal, while found in every State, has been chiefly sought and profitably worked in Guayana, where in the Yuruary region considerable mining has been done. True alluvial belts are found, zones of shale, and quartz veins. The alluvial deposits known are mainly near the British Guiana border in the Cuyuni and El Dorado districts. Placer gold exists along the Caroni River and in smaller tributaries of the Orinoco above Ciudad Bolívar. The rock formation shows the gold to be in stingers and crystalline grains of arsenical pyrite, from which the placers and pockets have been formed.
The quartz veins are more northerly near El Callao, where $50,000,000 are said to have been produced in thirty odd years. One mine in the Yuruari district has yielded 35,000 ounces. Metal is found in pockets 50-100 feet deep about 150 miles from the Orinoco. An English company has mining claims west of El Callao, where the ore is treated with quicksilver and cyanide, yielding 1-4 ounces per ton. Another company is working on the La Paz Bonanza, where 10,000 ounces were taken out by crude methods from rich veinlets and pockets almost at the surface. Several other companies are engaged, French and Venezuelan, one along the Cicapra River, a branch of the upper Yuruari. It is estimated that several million cubic yards with an average yield of $1.00 each are here available at a cost of 50 cents per yard. With better transportation and other facilities this section may come into the front rank of gold mining districts in South America. At present it is said to be better adapted to individual operators than to large companies. The climate is not unhealthful if suitable precautions are taken. The country is well wooded except near Callao. The average yearly production of gold is 900,000 grams.
Copper is known to exist in several States: Falcón, Carabobo, Mérida, Lara, a rich deposit in the northern part of Cojedes; but the only one vigorously and very profitably operated is that of Aroa in Yaracuy, where dividends have been 75-350 per cent. Near Nirgua in the same State other copper mines have been worked.
Coal is found in various sections. Where outcroppings occur in Táchira, Mérida, and Trujillo small operations have been carried on. There are other deposits but the principal mines worked are in Sucre and Falcón. Naricual, 16 miles from Barcelona, has produced the most coal, but not of a very good quality. It is used on local steamers and railways, and some, with pitch from Trinidad, is made into briquettes. A little west, another mine with coal of better quality has been opened within five miles of tide water on the bank of a river. The mines of Falcón near Coro have been developed further and production is increasing. Coke ovens have been established. Coal is found in several places near Lake Maracaibo. In the deposit 60 miles northwest of Maracaibo the coal is of high grade, better than Middle West coal and equal to the Pocahontas; hard, bright, black, excellent for steaming. Some veins are 8-20 feet thick, and when the railway to Castilletes is completed the annual export is expected to reach 500,000 tons. Lignite, bituminous, and semi-anthracite varieties are found.
Iron ore deposits occur in the eastern hills or mountains south of the Delta, but in the Delta Territory at Imataca. It is 67 per cent pure and almost free from sulphur and phosphorus. In 1914 some Americans secured options. Iron is also found near Coro, Barinas, Barcelona, and Cumaná.
Salt is found on the island of Coche, on the peninsula of Araya near Cumaná, in the vicinity of Barcelona and of Maracaibo, and elsewhere.
Sulphur appears to exist in commercial quantities about 11 miles inland from Corúpano; and other minerals have been observed in various States.
Diamonds and Pearls. There are said to be diamond mines in the Orinoco region. Pearl fishing is carried on among the islands, about 1600 persons being so engaged. Rakes are now used as diving is prohibited. Recently $600,000 worth were exported within a few months.