Colombia Energy Articles & Analysis

Chapter | Mining from The Report: Colombia 2019

With broad political support and efforts to improve the licensing process, the mining industry looks set to experience a rebound in 2019. While investments in coal production are unlikely to increase substantially in the coming years, segments such as gold, copper, nickel, emeralds, and other metallic and non-metallic minerals will provide attractive targets for investment. Government efforts...

Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.

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While it is a polymetallic country with robust resources of coal, gold, copper, nickel and emeralds, Colombia’s mining sector remains underdeveloped, accounting for less than 2% of the country’s GDP since 2012. As a result of its potential, past and present administrations have long identified mining as a key pillar of the country’s economic...

 

With similar geological characteristics to its Andean neighbour Peru, Colombia’s gold potential has long attracted interest from local and international miners. The country’s gold deposits are concentrated in areas with metallogenic belts in the Departments of Antioquia, Santander, Tolima, Huila, Caldas, Nariño, Cauca and Bolívar. Gold was the...

 

With no major onshore oil discoveries since 2009, Colombia’s oil and gas reserves have dwindled. The country has thus turned to non-conventional deposits as a means to boost production in the medium to long term. While this segment has historically been dominated by offshore activity, the government’s aim to boost proven reserves, diversify...

 

In which areas of energy transport and transmission is there potential for investment? ÁLVAREZ: Colombia boasts a developed and efficient transmission system, with 15,000 km of network and a 97% coverage rate. It reaches most of the country, and the remaining remote areas are supplied by independent generators. Moreover,...

 

How competitive is the local mining industry, and what reforms are necessary to boost activity?

 

As Colombia looks to improve investor sentiment and spur an infusion of foreign direct investment (FDI) in the mining sector, the administration of President Iván Duque has outlined detailed plans to reform existing community consultation guidelines, amid legal uncertainty regarding the awarding of project contracts.