Colombian coal miner Cerrejon's production and export levels fell in 2020 due to lower demand, price declines, the impact of the coronavirus pandemic, and a three-month strike which paralyzed operations, the company said on Wednesday. The miner produced 12.4 million tonnes of coal in 2020, down almost 52% from the 25.8 million tonnes it produced in 2019. Exports fell 48.2% from 26.3 million tonnes in 2019 to 13.6 million tonnes in 2020, the lowest level in the last 18 years.
Fitch Ratings has assigned a 'BBB-' rating to Colombia's $1.3 billion bonds maturing February 15, 2061. The notes have a coupon of 3.875%. Proceeds from this issuance will be used for general budgetary purposes.
Gran Colombia Gold produced 220,194 oz. of gold from its operations in Antioquia, meeting its production guidance for the fifth year in a row. The company had guided for production of 218,000 to 226,000 oz. gold. Most of its production – 196,362 oz. or 88% of the total – came from the company’s Segovia operations, consisting of three underground mines. In 2019, the company produced a total of 239,991 oz. gold, including 214,241 oz. of gold from Segovia at cash costs of $607 per oz. The Segovia operations contain proven and probable reserves of 2 million tonnes averaging 10.5 g/t gold for 670,000 oz.
Colombia has issued new global bonds worth $1.3 billion to international capital markets, while also reopening earlier-issued bonds, the ministry of finance said on Wednesday. The new bonds, due in 2061, have a 40-year placement and were issued at 3.875%, the ministry said in a statement, adding that they received demand for $5.37 billion. At the same time, Colombia issued global bonds due in 2031 worth $1.54 billion in a reopening, of which $1.23 billion formed part of a debt-management operation to partially replace global bonds maturing in 2021, 2024, and 2027. The reopened bonds were issued at 3.125%, the ministry of finance said.
Colombia-based real estate tech startup La Haus raised $35 million in a Series B round, with which it will seek to continue consolidating its expansion in the region. Before the latest funding, the company raised $10 million in Series A in 2020.