Could you introduce us to the Colombian Mining Association (Asociación Colombiana de Minería)?

The association represents and unites the entire mining industry in the country. Its members include companies that produce a wide range of minerals, such as thermal and metallurgical coal, gold, nickel, construction materials, emeralds, among others. It also includes exploration companies searching for new mineral deposits in Colombia, as well as suppliers of essential goods and services for the sector. Currently, the association has 72 members and accounts for about 98% of the country’s mining production, making it a key player in the industry's growth and development. How has the industry performed in the past year, and what is the current trend?

Mining is a key sector of the Colombian economy, accounting for 2.7% of the national GDP, 30% of total exports, and approximately 15% of foreign direct investment. These numbers are expected to stay strong in the coming years, highlighting the industry's importance for the country’s economic and fiscal stability. In terms of production, thermal coal is the most significant mineral, with around 65 million tons produced annually, followed by gold, nickel, emeralds, and construction materials. This sector is essential as it supports other industries and creates large-scale employment across different regions. How does global pressure on coal and fossil fuels impact Colombia's future projections?

Although Colombia produces 65 million t/y of coal, this amount is minimal compared to countries like China (3.4 billion t/y), India (1 billion t/y), and Indonesia (nearly 700 million t/y). However, Colombian coal stands out for its high quality and calorific value, making it highly sought after in international markets. While the country has a clear policy for reducing emissions and aims for a more balanced energy mix, its domestic coal consumption for power generation is minimal. As a result, Colombia’s coal production is primarily focused on exports, meaning that global pressure on fossil fuels could impact demand, but not immediately or directly. What recent regulations have impacted Colombia's attractiveness for foreign investment?

97% of the country’s territory remains untitled, meaning there is still a lot of ground to explore. That said, recent years have brought some major regulatory challenges. The government is in the process of introducing a new Mining Code, currently under consultation with communities in accordance with ILO Convention 167. There is also a proposal to create a state-owned mining company, Ecominerales. Furthermore, new decrees have been issued that impact the mining sector and other areas of the economy. This evolving regulatory framework’s impact will depend on how these measures are implemented and the direction the government takes in the coming years. However, there is no set timeline for the new mining code coming into law. What impact would the creation of Ecominerales have on the industry?

Ecominerales, as a state-owned company, is part of a broader trend in Latin America. Its creation raises questions about its role, participation in the sector, and the conditions under which it will compete with private players. It is essential for the government to clarify the real implications of this new entity, particularly regarding fair conditions in the allocation of mining titles and project development. Transparency will be key to ensuring fair participation between the public and private sectors in the country’s mining industry. What are the association's top priorities for this year under your leadership?

Our priority this year is to strengthen understanding of the laws and decrees affecting the sector and work towards regulations that align more closely with the current global reality of mining. One of the biggest challenges is actively engaging in discussions with the government to ensure that the regulations under review are balanced and support the sustainable development of the mining industry in the country. What message would you like to convey to international investors about Colombia?

Colombia is a highly promising destination for long-term mining investment. Over the next two years, discussions on regulations, the Mining Code, and new decrees are expected to be resolved, making this a great time to explore the country and its institutional framework. Unlike some other countries in the region, Colombia has a clear separation of powers between the Senate, the Supreme Courts, and the government, ensuring stability and a strong democracy. Additionally, its vast geological potential and the fact that much of its territory remains unexplored present a significant opportunity for international investors.