In past two years, Chinese investment in Colombia reached ca. $ 1 bn

In the last 26 months, China increased its investment outlook for Colombia, with close to $ 1 billion programmed for the development of projects in infrastructure, mining and key communications for economic reactivation. Two examples are the Bogotá Metro system and the Buriticá gold mining complex. According to ProColombia, between August 2018 and September 2020, 23 foreign investment projects arrived from China, with businesses for $ 919 million that will create 26,900 jobs.

Colombia to swap local debt, amount depends on demand

Colombia will swap its internal public debt due in the next two years in a bid to improve its credit profile without increasing indebtedness, the government said on Wednesday. The operation will take place on Thursday with market participants and its value will depend on demand, the ministry said in a statement. The finance ministry will swap local TES bonds coming due in 2021 and 2022 for paper due in 2027, 2029, 2032, 2033, 2034, 2035 and 2037. Colombia has carried out several swaps in a bid to delay paper coming due as it increases its debt load to meet needs generated by the coronavirus pandemic.

Colombia alluvial gold output area up 6%, two-thirds unlicensed

The number of hectares being used for alluvial gold production in Colombia increased 6% last year, with two-thirds of the total unlicensed, the energy ministry and United Nations Office on Drugs and Crime (UNODC) said on Wednesday. Just 27% of detected alluvial gold areas had required legal and environmental permissions, while 7% was in the process of legalizing. The remaining 66% is illegal production, the report said. Large-scale unlicensed gold mining, whether by crime gangs and leftist rebels or others, risks environmental damage in one of the world's most biodiverse countries.

IDB Invest backs off-grid solar installer Kingo with $5m

IDB Invest, the private sector arm of the Inter-American Development Bank Group, said it has made a USD-5-million (EUR 4.2m) equity investment in Guatemala-based prepaid solar services provider Kingo Energy to support its business model and growth plans. Kingo Energy serves customers mainly in Guatemala and Colombia, providing pay-as-you-go solar power solutions to the poorest communities living in remote and off-grid rural areas. The company is looking to expand to other countries in Latin America.

Soma Gold acquires second subsidiary in Colombia

Canadian miner Soma Gold announced that it will now have a Colombian subsidiary in Four Points Mining. To make Four Points its 100%-owned subsidiary, it has entered into a share purchase agreement with two arm’s length parties, Mineral FF S.A.S. and Rulvix Holding Inc., to purchase 25,992 common shares in the capital of Four Points. Under the terms of the agreement, Soma has to issue 1,218,232 common shares to the vendors at a deemed issue price of $0.55 per consideration share, which represents a 2.01% equity ownership in the company. Four Points is the owner and operator of the El Limón mine located in Colombia’s northwestern Antioquia department.