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Colombia aims to oblige prospective companies to take part in auctions for mineral rights

Monday, March 5, 2012


Colombia, the largest coal supplier in South America, will change the way it awards mineral exploration rights from next year.

The new method will be to force prospective companies to take part in auctions.

The changes will increase the benefits Colombia receives from mining as it seeks to boost production of minerals including gold, silver, platinum and copper.





Source: Bloomberg