Colombia's coal, nickel, steel exports down

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Thursday, August 3, 2017

Colombia, Latin America's largest coal producer, reported lower export revenue from coal, nickel, iron and steel in June.

Total exports climbed 0.8% to US$2.78bn in the month compared with US$2.75bn a year earlier, the country's statistics office (DANE) said in a report. Oil and gas, which posted exports of US$943mn, accounted for about a third of the total.

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Coal exports from companies including Cerrejón, Drummond, and Glencore unit Prodeco fell 9.6% to US$359mn from US$398mn a year earlier due to lower US demand, the agency said.

Ferronickel exports dropped 28.6% to US$26.3mn from US$36.8mn as shipments nearly halved to 8,4231t, according to the agency. Colombia's nickel industry is controlled by Cerro Matoso, owned by BHP Billiton spin-off South32.

Iron and steel exports slid 5.2% to US$39.1mn in June from US$41.3mn a year earlier due to a 20% drop in shipments to 14,149t. Non-metallic mineral sales rose 18.7% to US$40.6mn from

FIRST HALF

Gold exports, which are tracked on an accumulative basis, almost doubled to US$994mn through the first half from US$522mn a year earlier, the agency said. Vancouver-based Red Eagle Mining began production at its US$55mn San Ramón gold mine last November.

Coal and coke exports jumped 55.6% year-on-year to US$3.0901bn through the first six months, while those of ferronickel fell 13.9% to US$139mn, DANE said.

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

The United States accounted for 30% of Colombia's total exports through June, followed by Panama (5.4%), China (4.7%), Turkey (3.7%) and Ecuador and Brazil (both with a 3.6% share), according to the agency.