Companies

Canada’s Para Resources Buys Mineros SA Subsidiary in Colombia

Medellin Herald January 10, 2020

Medellin-based international gold mining giant Mineros SA announced January 9 that it sold 100% of its “Operadora Minera SAS” subsidiary in Colombia to Canada-based gold miner Para Resources. “The offer includes the sale of 100% of the shares of Operadora Minera and the mining title ‘GJJ101’

Congresses & Conferences

Medellin Expands Textile Congresses in Alliance with German Trade Group

Medellin Herald January 10, 2020

Medellin-based international textile/fashion trade group Inexmoda announced January 8 a new alliance deal with Germany’s Messe Frankfurt for the April 27-29, 2021 debut of the “Heimtextil” trade fair at Medellin’s Plaza Mayor convention center. “Heimtextil is the most important world event in the industry and the largest international trade fair for the textile sector,

Economy & Finance

Colombia’s Economy Improving, but Key Challenges Remain: Andi Annual Study

Medellin Herald January 3, 2020

Andi — Colombia’s biggest and most influential industrial-commercial trade association, born in Medellin – on January 3 issued its latest annual economic outlook report, finding that Colombia continues to improve in several key economic competitiveness areas — but still lags in others. “Colombia ends 2019 with a fairly acceptable performance in the economic

Taxes

President Duque Signs 2020 National Tax Law; Favors Lower-Income Groups, Jobs Growth

Medellin Herald December 28, 2019

Colombia President Ivan Duque on December 27 signed into law a new national tax bill that mainly helps lower-income people and incentivizes job growth in legal industries. The new law “seeks to continue promoting economic development and creates the basis for reducing inequality and closing income gaps in the country,” according to the official press […]

Colombian economy

Colombia’s Continuing Economic Growth Outshines Nearly All of Latin America

Medellin Herald December 19, 2019

A just-released December 2019 study by the United Nations Economic Commission for Latin America and the Caribbean (CEPAL in Spanish initials) finds that Colombia not only outstripped nearly all of Latin America in 2019 economic growth but also is likely to continue the trend in 2020. According to the study, “Preliminary Overview of the Economies […]

General News

EPM Successfully Closes Crucial Flood-Prevention Doors at Hidroituango Dam

Medellin Herald December 19, 2019

Medellin-based power giant EPM announced December18 that it successfully closed the second of two massive flood-prevention doors in the “auxiliary diversion tunnel” (“GAD” in Spanish initials) at the US$5 billion, 2.4-gigawatt “Hidroituango” hydropower project. The “GAD” had collapsed in April 2018, which forced EPM to divert Cauca River water through the dam’s machine

Infrastructure

Update: Medellin-Bogota Highway Reopens 24 Hours/Day at San Luis Landslide Site

Medellin Herald December 16, 2019

Colombia’s national highway agency (Invias) announced late December 14 that sufficient progress on clearing a November 13 landslide at kilometer 73 (San Luis) of the Medellin-Bogota Highway has now enabled 24 hours/day traffic flows in both directions. To date, more than 102,000 cubic meters of dirt and rocks have been removed from the landslide-site, while […]

Infrastructure

Update: Medellin-Bolombolo Sinifaná Section of ‘Pacifico 1’ Reopens on Restricted-Hours Schedules

Medellin Herald December 13, 2019

Colombia President Ivan Duque on December 20 celebrated a restricted-hours reopening of a 600-meters-long stretch of the “Pacifico 1” highway between Medellin and Bolombolo, which had been blocked for six months by a massive landslide near Amaga. Until all repairs and mountainside reconstructions are finally completed in the area, the road will be opened only […]

Congresses & Conferences

FISE Electricity Fair: 15,000 Visitors, US$200 Million Business Deals, 320 Exhibitors, New Focus on Wind & Solar Power, Electric Vehicles

Medellin Herald December 7, 2019

Medellin – the epicenter of Colombia’s mainly “green” electric power industry – this month hosted the 6th biannual FISE Electric Power Fair with more than 15,000 visitors, 320 exhibitors, US$200 million in new business deals — and a growing focus on wind/solar power as well as electric vehicles (EVs). At the Plaza Mayor convention center […]

Companies

EPM Wins 1st US$150 Million Insurance Payment for Hidroituango Damages

Medellin Herald December 4, 2019

Medellin-based electric power giant EPM announced December 4 that insurer Mapfre has issued its first payment – totaling US$150 million – for damages to the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric project in Antioquia. The payment “corresponds to the figure recommended by the [insurance] adjuster according to the expenses and investments made by EPM in the