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

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,

Companies

EPM’s 2020 Capex, Opex Budget Tops US$4.9 Billion

Medellin Herald November 26, 2019

Medellin-based multinational utilities giant EPM announced November 25 that its 2020 capital and operating budget will hit COP$17 trillion (US$4.9 billion). “The budget authorized by the EPM board of directors responds to a rigorous planning exercise and includes resources for the attention of the Hidroituango hydroelectric project, which in 2019 has reached important

Companies

Gran Colombia Gold 3Q 2019 Profits Dip; Continental Gold Eyes 2020 Start-Up, Touts Social, Environmental Projects

Medellin Herald November 18, 2019

Toronto, Canada-based Gran Colombia Gold (GCG) on November 14 reported US$9 million net income for third quarter (3Q) 2019, down from US$14 million in 3Q 2018 “primarily as a result of a non-operating loss on financial instruments in the third quarter this year.” As for nine-months (January through September) 2019, net income rebounded to US$17.7 […]

Companies

EPM 3Q 2019 Net Income Falls Year-on-Year, but Nine-Months 2019 Improves

Medellin Herald November 16, 2019

Medellin-based multinational utilities giant EPM announced November 15 that its third quarter (3Q) 2019 consolidated net income fell 25% year-on-year, to COP$457 billion (US$134 million), down from COP$607 billion (US$177 million) in 3Q 2018. The 3Q decline came despite a 9% year-on-year hike in gross revenues and a 13% boost in earnings before interest, taxes, […]

Companies

Orbis Posts Year-on-Year Profits Recovery in 3Q 2019

Medellin Herald November 15, 2019

Medellin-based multinational Grupo Orbis – producer of “Pintuco” paints, “Otek” water-handling systems and numerous chemical products – on November 14 posted a COP$10 billion (US$2.9 million) net profit, a big reversal from the COP$8 billion (US$2.3 million) net loss in 3Q 2018. Gross revenues rose 6.3% year-on-year, to COP$1.08 trillion (US$315 million), while earnings

Companies

Sura 3Q 2019 Net Income Jumps 35% Year-on-Year

Medellin Herald November 15, 2019

Medellin-based multinational insurance and investment specialist Grupo Sura on November 14 posted a 35% year-on-year jump in third quarter (3Q) 2019 net income, to COP$1.5 trillion (US$438 million). The biggest contributor to net income (COP$682 billion/US$199 million) in the latest quarter came from the Sura Asset Management (AM) division, which manages a growing basket

Companies

Following Brazil Sale, Exito Posts COP$11 Billion Net Income for 3Q 2019

Medellin Herald November 15, 2019

Medellin-based multinational supermarket giant Grupo Exito on November 14 posted a COP$11 billion (US$3.2 million) net income for third quarter (3Q) 2019 – not comparable to 3Q 2018 since its former Brazilian operations are now officially listed as a “discontinued operation.” Following a September 12 decision by most Exito stockholders and its board, Grupo Exito […]

Companies

Mineros SA 3Q 2019 Net Income Triples Year-on-Year

Medellin Herald November 14, 2019

Medellin-based multinational gold mining giant Mineros SA on November 13 reported a 227% year-on-year boost in third quarter (3Q) 2019 net income, hitting COP$64.7 billion (US$18.7 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise jumped 122%, to COP$127 billion (US$37 million), while EBITDA margin also rose to 35.8%, from 31% in 3Q

Companies

Grupo Argos 3Q 2019 Net Income Jumps 26% Year-on-Year

Medellin Herald November 13, 2019

Medellin-based cement, electric power and highway/airport concessionaire Grupo Argos on November 13 reported a 26% year-on-year rise in third quarter (3Q) 2019 consolidated net income, to COP$516 billion (US$150 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise rose 39% year-on-year, to COP$1.4 trillion (US$408 million), according