Colombia plans to auction copper mining projects in May to reduce import dependency and meet local demand. This initiative, announced by Alvaro Pardo from the National Mining Agency, involves 17 exploration and production blocks. The move aims to bolster local production amidst growing demand for copper for energy transition projects and combat local theft issues.
Colombia is set to hold an auction in May for copper mining projects to reduce reliance on imported copper. Alvaro Pardo, president of the National Mining Agency, announced this initiative at a business event in Cartagena. The aim is to meet local industrial demand for copper, essential for construction and electrical applications, while increasing domestic production to compete with regional leaders Chile and Peru.
The auction will feature 17 exploration and production blocks located in the Antioquia, Cesar, and La Guajira departments. Pardo emphasized the growing copper demand in Colombia, particularly for green energy projects, as well as the increase driven by high rates of theft of copper from telephone cables. The initiative seeks to provide local industries with sufficient copper and mitigate import dependence.
In the previous year, mining companies submitted 293 applications for copper, gold, and other metal mining, surpassing coal applications. Pardo noted that there is significant interest in strategic minerals like copper. Additionally, the results of a feasibility study for building a steel mill in Colombia are expected to be revealed between March and April, though details about the company involved were not disclosed.
Colombia’s May copper auction represents a strategic move to boost local production of copper, thereby reducing reliance on imports and addressing industrial demand. By offering exploration and production blocks, the government hopes to leverage local resources to promote economic growth and support the energy transition. The rising interest in copper mining underscores its significance in both industrial applications and green energy initiatives.
Original Source: www.mining.com
