Colombia boosts metals exports

Colombian exports rose 12.6% in November on higher revenue from metals, including nickel, iron and steel, the government said.

Exports totaled US$2.7bn in November compared with US$2.4bn a year earlier, the country's statistics institute (DANE) said in a report. Oil and gas, which posted US$855mn, accounted for a third of the total.

Iron and steel exports climbed 9.3% to US$40.3mn from US$37mn a year earlier despite lower prices, as shipments increased 21% to 18,589t from 15,363t, the agency said.

Manufactured metals rose 6.8% to US$30mn from US$28.2mn, while other non-ferrous metals exports fell 20.7% to US$6.2mn from US$7.8mn, it said.

Ferronickel exports rose 11.2% to US$34.3mn from US$31mn a year ago, as shipments gained 14% to 12,296t from 10,775t, the agency said. Colombia's nickel industry is controlled by Cerro Matoso, owned by BHP Billiton spin-off South32.

Colombia, Latin America's largest coal producer, also exported US$341mn of coal, up 10% from US$310mn a year earlier.

Colombia has lined up gold, silver and copper mining projects including AngloGold Ashanti's Gramalote and La Colosa deposits, Eco Oro Minerals' Angostura and Continental Gold's Buriticá. Vancouver-based Red Eagle Mining began production at its US$55mn San Ramón gold mine last month.