Colombia will auction copper mining projects in May to reduce imports and meet local demand. President of the National Mining Agency, Alvaro Pardo, announced plans for 17 production blocks in various departments. The move aims to address rising demand and combat copper theft, reflecting a growing interest in mining applications within the country.
In May, Colombia will initiate an auction for copper mining projects, according to Alvaro Pardo, the president of the National Mining Agency. This strategy aims to reduce the country’s reliance on imported copper while addressing domestic demand. The announcement was made during a business event in Cartagena, emphasizing the importance of local copper production amid rising consumption in industrial sectors.
Colombia, while known for commodities like oil and coal, significantly trails behind regional counterparts such as Chile and Peru in copper output. The upcoming auction will feature 17 exploration and production blocks spread across Antioquia, Cesar, and La Guajira departments. Pardo highlighted the urgent need for increased copper supply to support the nation’s growing demand, particularly in green energy initiatives and due to frequent theft of copper infrastructure.
“We want to replace imports and put an end to copper theft and be able to bring copper to all Colombian industrialists who require it, especially for the energy transition,” Pardo stated. Last year alone, mining companies filed 293 applications for copper and other metals, indicating a high interest surpassing that of coal projects.
Pardo expressed optimism regarding the influx of applications, particularly for strategic minerals like copper. He also mentioned that the results of a feasibility study for a new steel mill in Colombia are expected between March and April, although he did not disclose the company involved in this endeavor.
Colombia’s impending copper auction is a strategic initiative aimed at diminishing reliance on imported copper and addressing the increasing domestic demand for the metal, particularly in the context of green energy projects. With plans to auction 17 production blocks, the government seeks to bolster local supply and combat copper theft, ultimately enhancing the industrial capabilities of the nation. The interest shown by mining companies reflects a promising trend in Colombia’s mineral sector.
Original Source: www.mining.com
