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Grupo Prodeco

Company Detail

Description

Grupo Prodeco is a wholly owned Colombian subsidiary of Glencore plc engaged in the exploration, production, transportation and shipping of thermal and coking coal, and related infrastructure, which is exported to Europe, America and Asia. The group is made up of C.I. Prodeco S.A., owner of the Calenturitas mine and a railroad operation; Carbones de la Jagua S.A., Consorcio Minero Unido S.A. and Carbones El Tesoro S.A., owners of La Jagua mine; and Sociedad Portuaria Puerto Nuevo S.A., which owns the coal export terminal Puerto Nuevo. Glencore acquired Prodeco in 1995. In 2004, the company began operations in the Calenturitas open pit mine, in Colombia's Cesar department, which produces low sulfur thermal coal with high heat content. In 2007, the company bought the Consorcio Minero Unido mine, and one year later, it acquired El Tesoro, thus completing full acquisition of La Jagua. Grupo Prodeco also owns 39,76% of Ferrocarriles del Norte de Colombia S.A (Fenoco), which holds the concession for Colombia's northern railroad network and which Prodeco uses to transport coal to the Ciénaga municipality. Grupo Prodeco is headquartered in Barranquilla, Colombia.

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