Colombia national unemployment rate 14.7% in October, urban rate 16.8%

Colombia's urban jobless rate rose to 16.8% in October, from 10.4% in the same month of 2019, the government statistics agency said. The national unemployment rate was 14.7%, up from 9.8% YoY, and a drop of 1.1 percentage points from September 2020, the lowest since the coronavirus pandemic began, which raised it to record levels. Nearly 70% of the workforce is in large cities.

Colombia coal production down 47% year-on-year in Q3

Coal production in Colombia, the world's fifth-largest exporter of the fuel, fell 47.2% in the third quarter amid a national coronavirus lockdown and an ongoing strike at the Cerrejon mine. The South American country produced 11 million tonnes of coal between July and September, down from 20.8 million tonnes in the year-ago period, the mines and energy ministry and national mining agency said in a joint statement. Mining royalties in the third quarter totaled ca $91.8 million.

57% YoY increase in gold production in Colombia

Gold, nickel and emeralds increased their production in Colombia during the third quarter of 2020 compared to the second quarter, according to the Colombian Ministry of Mines and Energy. Gold production in the third quarter of 2020 increased by more than 57% YoY. Compared to the second quarter of 2020, production gre by 42%, going from ten to 14.17 tons.

Medellín light railway secured $667 mn in government resources for its construction

This Monday the Colombian Government signed the co-financing agreement for the construction of the Medellín Light railway, which guarantees the resources that the government will provide for the execution of the project, as well as the terms and conditions under which the parties concur. The project spans 13.5 kilometers and 17 stations, and will have an investment of $972 million, of which the state resources will be $667 million.

Cerrejón coal mine in Colombia reaches agreement with union to end 91-day strike

The Colombian coal mine Cerrejón and its largest union of workers reached an agreement on Monday to end a 91-day strike, the longest in history at the mining complex, and restart operations from Tuesday, the company reported. "The strike had started on August 31 after the parties failed to reach an agreement on wage increases and other health, education and housing benefits for workers. Cerrejón, owned in equal parts by BHP Group, Anglo American and Glencore, is an integrated mining and transportation complex in the department of La Guajira, in northeastern Colombia, which includes an open pit mine, a 150-kilometer railway line and a maritime port on the Caribbean Sea.