Colombia will launch a copper auction in May to boost local production and reduce dependence on imports. The initiative, led by the National Mining Agency, includes 17 blocks for exploration and production. The move aims to satisfy the growing demand for copper, particularly for green energy projects, while tackling the problem of local cable theft.
The Colombian government is set to conduct an auction in May for copper mining projects, as revealed by Alvaro Pardo, the president of the National Mining Agency, during an event in Cartagena. This initiative is aimed at fulfilling local demand for copper while reducing reliance on foreign imports.
Colombia is known for its production of commodities such as oil and coal; however, it is significantly behind Chile and Peru in terms of copper output. The auction will present 17 exploration and production blocks located in the Antioquia, Cesar, and La Guajira departments.
Pardo emphasized the increasing demand for copper in Colombia, especially for green energy projects, while also addressing the issue of theft of copper telephone cables that exacerbates local demand. “We want to replace imports and put an end to copper theft… for the energy transition,” he stated.
Last year, the volume of applications submitted to mine copper and other metals reached 293, exceeding those for coal projects. Pardo noted a growing interest in strategic minerals such as copper, correlating with increasing investment activity.
Additionally, Pardo announced that a feasibility study for a steel mill in Colombia will yield results between March and April, although he did not disclose which company would oversee the project.
The Colombian government’s upcoming copper auction represents a strategic move towards meeting domestic demand for copper, reducing import dependency, and addressing local issues such as theft. This initiative reflects a broader focus on minerals essential for green energy projects and signifies a growing interest in the Colombian mining sector. The anticipated results of the feasibility study for a steel mill further point to an expanding industrial landscape in the country.
Original Source: www.mining.com
