Companies

Valores Simesa Reports US$6.1 Million Profit for Full-Year 2019, Proposes Stock Buyback

Medellin Herald February 10, 2020

Medellin-based real-estate developer Valores Simesa on February 7 reported an after-tax profit of COP$21.1 billion (US$6.1 million) for full-year 2019 — and simultaneously revealed in a filing with Colombia’s Superfinanciera agency a proposed COP$20 billion (US$5.8 million) stock buyback.

Companies

Enka Full-Year 2019 Profits Skyrocket by 253% Year-on-Year

Medellin Herald February 7, 2020

Medellin-based textiles and waste-plastics recycling specialist Enka Colombia revealed in a February 6 filing with Colombia’s Superfinanciera oversight agency that its full-year 2019 net profits jumped 253% year-on-year, to COP$15 billion (US$4.4 million). “In addition to good operating results, the net result was favored by lower financial expense due to the reduction in

Companies

Coltejer Posts US$7.2 Million Net Loss for Full-Year 2019

Medellin Herald January 30, 2020

Medellin-based textile giant Coltejer on January 29 revealed in a filing with Colombia’s corporate oversight agency Superfinanciera that it suffered a full-year 2019 net loss of COP$24.9 billion (US$7.2 million), a small improvement over the COP$28.9 billion (US$8.5 million) net loss in 2018. Sales also dipped slightly, to COP$141.9 billion (US$41.7 million ) in 2019 […]

Companies

Holcim to Debut Tech Center at Ruta N in Medellin Next Year; 1,000 New High-Tech Jobs

Medellin Herald January 29, 2020

Switzerland-based global cement/concrete giant LafargeHolcim announced January 28 that it aims to invest US$10 million in a new information-technology research center next year for all the Americas at the Ruta N technology incubation center in Medellin. According to the official press bulletin from the Medellin Mayor’s office, the new research center will employ 250 people

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’ corresponding to the Nechi [Antioquia] project for a total […]

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

Companies

China’s Zijin Mining Buys 100% of Continental Gold’s Antioquia Mining Operation

Medellin Herald December 2, 2019

Toronto-based Continental Gold – developer of the giant Buriticá, Antioquia gold mine due for start-up in 2020 – announced December 2 that China-based Zijin Mining Group inked a C$1.4 billion/US$1 billion deal to buy 100% of Continental’s stock. “The offer price represents a premium of 29% over Continental’s 20-day volume-weighted average price at November 29, […]

Companies

Coltejer Reveals US$65 Million Debt Restructuring

Medellin Herald December 2, 2019

Medellin-based textile giant Coltejer revealed in a November 30 filing with Colombia’s Superfinanciera corporate oversight agency that it inked a US$65 million debt restructuring deal with Grupo MCM Colombia. The new debt deal carries a 10% annual interest rate and runs through December 31, 2021, according to the filing. Coltejer and fellow Colombian textile makers […]

Companies

Update: AngloGold Ashanti Reveals More Details on Proposed ‘Biodynamic’ Mining Scheme at Jerico, Antioquia

Medellin Herald November 29, 2019

South Africa-based global mining giant AngloGold Ashanti on November 28 unveiled more details of its proposed “Quebradona” copper-gold mining project at Jerico, Antioquia — including a novel “Biodynamic” nature park that would restore and improve the entire mining area, as part of its just-filed environmental impact assessment (EIA). AngloGold

Companies

Accenture Debuts Tech-Demonstration ‘Nano Lab’ at Medellin’s ‘Ruta N’

Medellin Herald November 27, 2019

Ireland-based global high-technology consultant Accenture reveals on November 29, 2019, the debut of Colombia’s first tech-demonstration “Nano Lab” — at Medellin’s “Ruta N” technology incubation center. “This space will immerse local customers in the latest emerging technologies, including artificial intelligence, extended reality, quantum computing, robotics,