Colombian coal exports up by nearly half

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Friday, December 1, 2017

Colombia's coal exports rose in October, while those of nickel, iron and steel also gained, according to the government.

Total exports rose 15% to US$3.13bn in the month compared with US$2.72bn a year earlier, the country's statistics office said in a report. Oil and gas exports accounted for US$1.10bn.

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Coal exports from companies including Cerrejón, Drummond and Glencore unit Prodeco jumped 45% to US$554mn from US$382mn a year earlier due to higher demand from France, Holland and Turkey, the agency said. Colombia is Latin America's largest coal producer

Ferronickel exports soared 83.8% to US$44.2mn from US$24.1mn a year earlier as shipments rose 39% to 11,846t. Colombia's nickel industry is controlled by Cerro Matoso, owned by BHP Billiton spin-off South32.

Iron and steel exports rose 68.6% to US$60.1mn in October from US$35.2mn a year earlier due to a 39% increase in shipments to 25,908t, the agency said. Non-metallic minerals sales climbed 8% to US$32mn.

Manufactured metals exports fell 17.2% to US$28mn, while non-ferrous metals exports declined 11.3% to US$7.1mn and scrap metal dropped 8.8% to US$28.6mn, it said.

GOLD

Gold exports, which are tracked on an accumulative basis, rose 41.2% to US$1.527bn through October from US$1.082bn a year earlier, the agency said. Vancouver-based Red Eagle Mining began production at its US$55mn San Ramón gold mine in November 2016.

Companies including AngloGold Ashanti, Eco Oro Minerals and Continental Gold have also lined up gold, silver and copper mining projects in Colombia.

The United States accounted for 24.6% of Colombia's total exports through October, followed by Panama (9.4%), China (8.7%), the Netherlands (6%), Ecuador (4.3%) and Brazil (4.1%), according to the agency.