Colombia coal miner Cerrejon production falls 52% in 2020; Exports down 48%, lowest in 18 years

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.

At 220,000 oz, Gran Colombia meets 2020 guidance despite 8% production decline

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 issues $1.3 bn of new global bonds due in 2061

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.