Colombia to create national mining company, 2022 royalties soar -gov’t – by Oliver Griffin (Reuters – December 7, 2022)

BOGOTA (Reuters) – Colombia is preparing to launch a national mining company, the president of the government’s National Mining Association (ANM) said on Wednesday, adding that coal mining royalties during the year had more than doubled.

The government of President Gustavo Petro has pledged to reform the mining sector, ruling out more licenses for large-scale open-pit coal mines as it focuses on minerals that are important for the energy transition, such as copper.

Part of that effort will include launching a new state-owned mining company, starting with an agreement to bring two international gold trading companies under control of the government, ANM President Alvaro Pardo told journalists during a press conference in Colombia’s capital Bogota.

The two companies are currently held by the Special Assets Society (SAE), a fund which manages assets seized from criminals and illegal groups to compensate victims of Colombia’s internal armed conflict.

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