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Colombian authorities are seeking fresh investment for the famed Colombia emeralds mining industry, amid a spike in the value of exports and plans to significantly increase revenues in the near future.
Via an online event on June 9, the country’s National Mining Agency (ANM) announced a series of business rounds with prospective investors and buyers aimed at boosting the already large emerald mining industry.
During that event, ANM President Juan Miguel Durán highlighted how there are 70 projects for mining Colombia emeralds that are registered as seeking investment, with the roundtable discussions intended to facilitate partnerships between potential investors.
“They can be mining companies, investment funds, consortiums of companies, among others. In this business round, the ANM has already received registrations from companies and government entities from the United States, Canada, Peru, Poland, the United Kingdom, China and Japan,” Durán was reported saying ahead of the event.
See also: How to Get a Mining Title in Colombia?
According to the Colombian association of emerald exporters (Acodes), which represents the vast majority of exporters, exports of Colombia emeralds were registered at $42 million in 2020 (all figures in USD), while they had already reached $35 million by June of this year. Acodes has stated that it aims to reach exports of $126 million in 2021.
Colombia’s emerald export economy is the second-largest in the world, behind only Zambia, with production based in the neighbouring departments of Boyacá and Cundinamarca — the latter being where capital Bogotá is located. More than 80% of exports are destined for the United States (40%), Hong Kong (30%), and Switzerland (11%), while Thailand and Japan are also major importers, according to BNamericas.
Biz Latin Hub can help you invest in Colombia emeralds
At Biz Latin Hub, our experienced team of investment experts is available to offer legal, accounting, PEO and Hiring, and company formation support when investing in the Colombia emeralds industry. With our complete portfolio of back office solutions, including legal, accounting, and recruitment services, we can be your single point of contact for entering and operating in Colombia, or any of the other 17 jurisdictions around Latin America and the Caribbean where we operate.
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The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.
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