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Uncertain future for mining industry in Colombia

Wednesday, December 26, 2012

Large-scale mining in Colombia has grown in recent years, but not at a significant enough rate to suggest the future of the industry remains bright, reported local media on Wednesday.

According to Claudia Jimenez, the executive director of the Association of Large-Scale Mining Sector, Colombia was ranked third in terms of ideal countries for foreign mining investment, but as of December 26, the country had slipped to fifth place.

Jimenez stated that mining contributed 1.8 percent to Colombia's gross domestic product in 2000 and more than a decade later in 2011, that number had grown to just 2.3 percent.

Source: Colombia Reports