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Colombia mining watch

Bnamericas Published: Saturday, May 28, 2022
Colombia mining watch

Colombia’s Q1 mining exports grew 44% year-on-year to US$3.75bn, the best result in a decade.

The growth was driven by increasing prices for coal, coke, and ferronickel, according to mining association ACM. 

If the current export pace and international market conditions are maintained, the sector will contribute a record 9tn pesos (US$2.3bn) to public coffers this year, ACM said in a statement.

ACM president Juan Camilo Nariño said Colombia should jump on the mineral opportunities the energy transition provides. By 2050, demand for lithium, cobalt, graphite, indium, vanadium, and nickel will increase exponentially by 539%, 460%, 383%, 228%, 189%, and 84%, respectively. Demand for aluminum is projected to rise 9% and for copper 7%.

“The world and Colombia need minerals and as a sector we are committed to extracting them with the highest standards, quality commitments, citizen participation and against climate change. The green [transition] and mining go hand in hand,” he added.

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Colombia promoted its emerald potential during the Emerald Business Round Table event.

The event is part of a strategy to identify opportunities for mineral commercialization or investments.

The Malacara, Palomas and El Tinajo mining projects in Cundinamarca department were presented, as well as the mining offer of Geominc, Norcol Colombia-Esmeraldas de Coscuez, and Emerald Mart in Boyacá department.

Colombia is the world’s largest producer and exporter of high-quality emeralds.

Main extraction areas are in the Andes’ eastern cordillera and involve the Chivor, Gachalá and Macanal mining districts in the eastern belt, and Muzo, Coscuez, Peñas Blancas, La Palma-Yacopí, and La Pita in the western belt.

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