Colombia Emeralds: Investment Sought as Exports Spike

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.

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