EXECUTIVE SUMMARY
this month ’ s series :
Personal safety
Security issues in Colombia have
advanced drastically over the past
decade, and the country is on its
way to quashing the problems and
reputation it picked up in the late
20th century due to out-of-control
mafia and guerrilla activity. Many
foreigners already believe in the
improved Colombia, but some are
still wary.
Production
Colombia’s coal mining industry
dominates the sector and continues
to grow, with mines of all scales
and multinational majors deeply
vested. At some 70Mt/y, Colombia’s
production is tiny compared to
China and the US, but unlike those
countries, coal producers export
nearly all their output and are a
good source of external revenue.
Exploration
Most exploration capital is spent in
search of metals, in particular gold
and copper. A handful of major
yellow metal deposits have taken
shape in recent years and promise to
provide the biggest source of mining
income growth of the near future.
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Chance to shine: Opportunity in
Colombia’s rising mining sector
Colombia’s mining renaissance is thanks to
the confluence of two factors - its mineral
potential, supported by a diverse topography
that is largely unexplored, and a pro-mining,
pro-private foreign investment government.
These circumstances have got many in the
mining industry looking to Colombia as a land
of opportunity for explorers and producers
looking for new ground. Pro-mining forces in
Colombia recognize that, today, competition
for mining investment is not regional but
global, and are working to keep FDI in the
sector on a steadily rising path.
While Colombia may stand apart from its
immediate neighbors as being investment-
friendly and its regional neighbors as being
a young and old mining country at the same
time, it often suffers the same problems of
cohesion among government institutions,
Foreign direct investment in Colombia, 2002-2009
2,157
10,000
8,000
6,000
Millions of US$
4,000
1,246
466
627
2,000
0
2002 2003 2004 2005 2006 2007 2008 2009
June 2010
particularly when compared to its Andean
counterparts.
Not everyone in Colombia is convinced that
mining should be the country’s biggest source
of income, partly due to environmental
worries (Colombia is widely recognized as
one of the most biodiverse nations on the
planet) and partly because of the economics
of natural resource exploitation and its
potential impact on other sectors.
But local experts think Colombia is at an
early enough stage in its modern mining
era that it still has the opportunity to
take an organized approach that promotes
sustainable growth and garners support
from the majority of Colombians, provided
mining and environmental authorities and
their regional representatives pull together
to work for that goal.
Mining*
1,798
1,100
3,094
1,783
*Mines and quarries, including coal
Source: Banco de la República
 Written and researched by
Laura Superneau

Business Intelligence

Director

Mining Daily Raúl Ferro

Executive editor
Henriette Iraçabal
We understand the importance of information Carmen Oria

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