https://www.engineeringnews.co.za

Colombia extends Drummond contract on coal mine for 20 years

25th January 2019

By: Reuters

  

Font size: - +

BOGOTA – Colombia has extended coal miner Drummond's licence to operate its La Loma mine for an additional 20 years, the national mining agency said on Thursday.

The contract at the mine, located in northeastern Cesar province, will generate at least $586-million in royalties, income and social project investment during its lifetime, the agency said in a statement on its website.

Drummond is Colombia's largest exporter of coal.

The new contract will begin in May, Drummond said in a statement. The company has operated the mine for more than 30 years and along with its transportation operations provides some 5 200 direct jobs, it added.

"This contract represented 30% of Drummond's mining operation production in 2018 in Colombia," the company said. "The area of this renewed concession has proven reserves of approximately 60.5-million tons."

Besides Drummond, the biggest players in Colombia's coal industry are Glencore's Prodeco, Murray Energy's Colombia Natural Resources, and Cerrejon, which is jointly owned by BHP Billiton, Anglo American and Glencore.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.055 0.656s - 140pq - 2rq
Subscribe Now