Companies

Responsible Mining: Continental Gold Wins Crucial Enviromental Permit

Medellin Herald December 2, 2016

Canada-based Continental Gold announced November 30 that it finally won a crucial environmental permit that paves the way for a US$600 million gold-mining development project at Buritica, Antioquia. Once industrial-scale production starts in 2019, the mine and upgrading plant would produce an

Politics

Colombia Congress Rubber-Stamps ‘Peace’ Deal with FARC

Medellin Herald December 1, 2016

With the opposition Centro Democratico party boycotting the votes, Colombia’s House of Representatives and Senate voted unanimously November 29 and November 30 to approve a revised “peace” deal with the narco-terrorist Fuerzas Armadas Revolucionarias de Colombia (FARC). Meanwhile, Colombian President Juan Manuel Santos declared that following the vote, all of the FARC’s

General News

Fitch: Medellin Municipal Bonds Get ‘AAA(col)’ Long-Term Rating

Medellin Herald November 30, 2016

Wall Street bond rater Fitch announced November 23 that it affirmed the city of Medellin’s national long-term bond rating at “AAA(col)” with a “stable” outlook and the short-term rating at ‘F1+(col)’. Fitch has also affirmed the Long-Term Issuer Default Rating (IDR) at “BBB.” While the rating outlook “remains negative,” this outlook “reflects the ‘negative

Tourism

Iberia Launches Nonstop Medellin-Madrid Flights in March

Medellin Herald November 30, 2016

Spanish airline Iberia announced November 24 that it will launch three-times-a-week, nonstop service between Medellin’s international airport and Madrid starting March 26 – hence eliminating the current stop in Cali, Colombia. The flights will employ the new A330-200 Airbus planes – 269 seats in tourist-class section and 19 seats in the business-class section, according to

Companies

Exito 3Q 2016 EBITDA Improves, but Posts Net Loss

Medellin Herald November 30, 2016

Medellin-based retail giant Exito reported November 29 that its third quarter (3Q) 2016 earnings before interest, taxes, depreciation and amortization (EBITDA) rose 4.2% year-on-year, to COP$732 billion (US$238 million) on sales of COP$16.5 trillion (US$5.36 billion), up 12.5%. However, the company posted a net loss of COP$100 billion (US$32 million), down from a net

Companies

Grupo Argos 3Q 2016 Net Profit Jumps 39% Year-on-Year

Medellin Herald November 30, 2016

Medellin-based construction, energy, cement and port-operator giant Grupo Argos announced November 29 that its third quarter (3Q) 2016 net profits jumped 39% year-on-year, to COP$880 billion (US$286 million) on sales of COP$10.8 trillion (US$3.5 billion), up 24%. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 29%, to COP$2.74 trillion (US$891

General News

Plane Crash Near Medellin Airport Claims Brazilian Soccer Team

Medellin Herald November 29, 2016

A BAe-146 jet aircraft (photo above) operated by Bolivia-based charter airline LaMia crashed near Medellin’s Jose Maria Cordoba (JMC) international airport around 10 p.m. November 28, killing 75 passengers and crew — including most of the members of the “Chapecoense” Brazilian soccer team. According to the official press statement from JMC airport operator Airplan,

Health & Insurance.

Health Care in Medellin: English Options Expanding for Expats, Medical Tourists

Medellin Herald November 26, 2016

Medellin’s hospital, clinic and dental sector enjoys an expanding reputation for high quality and relatively low prices — which explains why an increasing number of resident expats and medical tourists come here for all sorts of surgical procedures. Part of the reason for these success stories can be credited to the bilingual Salud Sin Fronteras […]

General News

Medellin, Bogota Suffer Nation’s Worst Air Pollution: IDEAM

Medellin Herald November 24, 2016

Colombia’s national Institute of Hydrology, Meteorology and Environmental Studies (IDEAM) on November 23 unveiled a new “Air Quality Report 2011-2015” showing that Medellin and Bogota suffer the worst air pollution in the nation. By 2015, the most contaminated areas with air-pollution monitoring stations were the Kennedy neighborhood of Bogota (for “PM 10” coarse

General News

Israel Inks US$77 Million Investment Deal for Antioquia Hydroponic Farm Project

Medellin Herald November 22, 2016

Antioquia Governor Luis Perez and Israeli Ambassador to Colombia Marco Sermoneta jointly announced November 21 that Israeli companies will invest US$77 million in a novel hydroponic farm project near the town of San Roque in Northeast Antioquia. The farm project in the El Nus township would produce tomatoes, sweet peppers and other vegetables on a […]