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Mineral industry of Uruguay
The mining sector contributes only 0.1% to the GDP of Uruguay. Uruguay’s mineral commodities include clays, semiprecious gemstones, gold, iron and steel, sand and gravel, and stone. Uruguay has no proven natural gas or oil reserves but it does have substantial hydroelectric capacity.〔Gurmendi, Alfredo C. ("The Mineral Industry of Paraguay and Uruguay" ) (PDF). ''2006 Minerals Yearbook''. United States Geological Survey (April 2008) .〕
==Structure of the Mineral Industry==
The mineral industry of Uruguay mostly consisted of Uruguayan state-owned firms. The structure of the country’s mineral industry could change to a privately owned, government-regulated regime from one that was government owned and government operated. Foreign direct investment (FdI) inflows to Mercosur had a positive effect on Uruguay’s FdI inflows, which increased to $1.4 billion in 2006
from $847.4 million in 2005, and that mostly reflected the high international prices of several commodities, such as cement, steel, sugar, textiles, and wood products.〔
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