While it is a polymetallic country with robust resources of coal, gold, copper, nickel and emeralds, Colombia’s mining sector remains underdeveloped, accounting for less than 2% of the country’s GDP since 2012. As a result of its potential, past and present administrations have long identified mining as a key pillar of the country’s economic...
With similar geological characteristics to its Andean neighbour Peru, Colombia’s gold potential has long attracted interest from local and international miners. The country’s gold deposits are concentrated in areas with metallogenic belts in the Departments of Antioquia, Santander, Tolima, Huila, Caldas, Nariño, Cauca and Bolívar. Gold was the...
As Colombia looks to improve investor sentiment and spur an infusion of foreign direct investment (FDI) in the mining sector, the administration of President Iván Duque has outlined detailed plans to reform existing community consultation guidelines, amid legal uncertainty regarding the awarding of project contracts.
In which areas of energy transport and transmission is there potential for investment? ÁLVAREZ: Colombia boasts a developed and efficient transmission system, with 15,000 km of network and a 97% coverage rate. It reaches most of the country, and the remaining remote areas are supplied by independent generators. Moreover,...
How competitive is the local mining industry, and what reforms are necessary to boost activity?
With no major onshore oil discoveries since 2009, Colombia’s oil and gas reserves have dwindled. The country has thus turned to non-conventional deposits as a means to boost production in the medium to long term. While this segment has historically been dominated by offshore activity, the government’s aim to boost proven reserves, diversify...
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