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Colombia's mining sector is expected to recover 15 percent
in 2021, driven by increased coal, gold and nickel production, as well as foreign direct investment, the Colombian Industry Association said Tuesday.
Colombia's mining sector, hit last year by the coronavirus pandemic and 91 consecutive days of strikes at the Cerrejon coal mine, fell by about 26 percent last year, the largest drop in history, while foreign investment fell by nearly half to $902 million
.
Juan Camilo Narino, president of the Colombian Mining Association ACM, said: "We expect the mining sector to complete a recovery of about 15% this year, which is a sign of increased coal production.
.
.
and driven
by new gold and copper projects.
”
In addition to improving coal production and new projects, the recovery will benefit from the restart of infrastructure works and increased
demand for luxury goods such as emeralds, the association said.
Narino said the industry's main challenges this year include promoting exploration policies to attract greater investment, restoring previous levels of coal production and finding new coal markets
.
After a 40% drop in 2020 production to 49.
5 million mt, ACM has set a coal production target of 60 million mt
for this year.
The gold production target has been set at 1.
78 million troy ounces, up from 1.
53 million troy ounces
last year.
A troy ounce weighs about 31.
1 grams, while a regular ounce weighs about 28.
3 grams
.
Narino added that nickel production is expected to reach 40,000 tonnes by 2021, up from 36,000 tonnes
in 2020.
Nickel exports are forecast to reach $10.
7 billion this year.
Colombia's mining sector is expected to recover 15 percent
in 2021, driven by increased coal, gold and nickel production, as well as foreign direct investment, the Colombian Industry Association said Tuesday.
Colombia's mining sector, hit last year by the coronavirus pandemic and 91 consecutive days of strikes at the Cerrejon coal mine, fell by about 26 percent last year, the largest drop in history, while foreign investment fell by nearly half to $902 million
.
Juan Camilo Narino, president of the Colombian Mining Association ACM, said: "We expect the mining sector to complete a recovery of about 15% this year, which is a sign of increased coal production.
.
.
and driven
by new gold and copper projects.
”
In addition to improving coal production and new projects, the recovery will benefit from the restart of infrastructure works and increased
demand for luxury goods such as emeralds, the association said.
Narino said the industry's main challenges this year include promoting exploration policies to attract greater investment, restoring previous levels of coal production and finding new coal markets
.
After a 40% drop in 2020 production to 49.
5 million mt, ACM has set a coal production target of 60 million mt
for this year.
The gold production target has been set at 1.
78 million troy ounces, up from 1.
53 million troy ounces
last year.
A troy ounce weighs about 31.
1 grams, while a regular ounce weighs about 28.
3 grams
.
Narino added that nickel production is expected to reach 40,000 tonnes by 2021, up from 36,000 tonnes
in 2020.
Nickel exports are forecast to reach $10.
7 billion this year.
