Colombia to launch copper exploration round with eight qualified firms

At least eight companies have qualified for Colombia’s copper, gold and polymetallic exploration round launching next week, Carlos Ortega, vice president of promotion and development at the National Mining Agency (ANM), told Reuters on Friday.

Colombia will offer 14 areas for copper production and exploration, ANM president Lina Franco said earlier on Friday.

The blocks included in this round, set to be launched next Monday, are located in the departments of Antioquia, Cesar, La Guajira, and Tolima, Franco added during an event in Bogota.

Canadian firm Aris Mining is among those already qualified, Ortega said, while Rio Tinto is in the process of securing its qualification.

“Several important companies have already qualified. Some gave us feedback, and we made adjustments to ensure the round runs smoothly,” Ortega said on the sidelines of an agency event. He added that companies can participate in an auction if more than one expresses interest in the same block.

Aris Mining confirmed it had already qualified. Rio Tinto did not immediately respond to a request for comment.

“This is a selection mechanism where we have spent more than a year evaluating high-potential areas. Companies are practically guaranteed to participate, and we have advanced on community issues so they can enter more easily,” he said.

Only 2.5% of Colombian territory has mining titles, equivalent to 2.9 million hectares, of which 98% corresponds to small- and medium-scale mining, according to the ANM.

Colombia has 354 titles with copper potential, covering 0.43% of national territory, but only six are in active operation, according to agency data.

(By Nelson Bocanegra; Editing by Natalia Siniawski and Aurora Ellis)