Extractive industry

The Ecuador' Andes are not rich in the important minerals. Its mining is less than one percent of interior gross products. The mining mainly takes place in the south of Oriente territory where we can see the sudden increase of gold mining since 1995. The main natural resource of the Earth's interior of Ecuador is mineral oil. The oil mining has been carried out since 1917. The petroleum became an essential source of income only after the consortium "Texaco-Gulf" had begun an exploitation of the rich oilfields in Oriente. The mined petroleum goes via transandeous oil-pipe line to the harbor "Esmeraldas" and to the nearby petroleum refineries. In 1973 Ecuador joined to the

Organization of the country-exporters of oil. But in 1992 triggered by president Duran Ecuador stopped being the member of this Organization, but saved the status of associated member and got free of annually paid membership fees of two million dollars and the necessity to adhere to the fixed shares. During the next years the oil mining increased ran up to amount of 387 thousand of barrels a day and exceeded ten percent of the amount of 1993. But the limited carrying capacity of transandeous oil-pipe line prevents from the further growth. Ecuador has also the main resources of natural gas (known resources are estimated about 6,1 billion of cubic meters). But until now these resources are very little used because of absence of corresponding infrastructure. In 1992 the mining of natural gas was 100 million of cubic meters. On the south of Sierra, in the province of Loh, there are mined copper, silver and gold, bit in very little quantities.