Mining
From The Report: Colombia 2017
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For a country with three Andean mountain chains and a history of gold and silver production, mining has remained a relatively small contributor to the modern Colombian economy. Between 2012 and 2015 the sector contributed around 2% to GDP and 20% of exports, with the vast majority coming from two giant coal projects: the Cerrejón mine in La Guajira department and La Loma mine in César department. Between 2013 and 2016 the sector experienced a slump as low commodity prices and bureaucratic obstacles saw exploration and development dry up. However, in 2017 stronger global coal and gold prices, the successful construction of a new gold mine and the licensing of three others signal that the country could be on the cusp of a new phase in the industry’s development.

Articles from this Chapter

Overview

Dig it: A reinvigorated industry is receiving strong state support
OBG
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For a country with three Andean mountain chains and a history of gold and silver production, mining has remained a relatively small contributor to the modern Colombian economy. Between 2012 and 2015 the sector contributed only around 2% to GDP and 20% of exports, with the vast majority coming from two giant coal projects: the Cerrejón mine in La Guajira department and La Loma mine in César department. Between 2013 and 2016 the sector experienced a slump as low commodity prices and bureaucratic…

Analysis

Gold standard: Exploration has led to a number of discoveries and new mines
OBG
plus

After delays and several false starts, the Colombian gold mining segment gained momentum in 2016 with the awarding of environmental permits for four gold mines. This follows the March 2015 permit given to Canada-based Red Eagle Mining, which, little more than a year later, became the first medium-sized gold mine to enter into production in Colombia for 50 years. When these four projects enter into operation in the early 2020s, following combined investments of $1.7bn, Colombian legal gold…