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Colombia repeals 10 mining restrictions to spur investment
The new government moved to lift the prior limits by decree, aiming to revive spending on Colombia’s largely untapped copper potential through 2030.
Colombia’s new government has repealed 10 resolutions that had restricted natural resource exploration and extraction, part of an effort to revive mining investment and unlock the country’s copper potential, according to Mining.com.
Mining Minister Maria Nohemi Arboleda said the restrictions, created under the prior leftist administration, were meant to bring order to land use but ended up discouraging investment and exploration, hurting small-scale mining and sector formalization, the outlet reported.
Arboleda announced the repeal by decree at a mining conference in Cartagena, describing the changes as an early test of whether President Abelardo De La Espriella can turn a pro-investment platform into exploration spending and mine development.
Mining.com also noted that Colombia has substantial copper, gold, coal and nickel potential, but that permitting delays, regulatory uncertainty and security risks have previously constrained investment, while the administration says it can make further changes by decree such as simplifying procedures, shortening licensing timelines and streamlining community consultations.
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