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

Professional services

Colombia Launches ‘Internationalization Factory’ Scheme to Aid Exports

Medellin Herald January 10, 2020

Colombia’s Ministry of Commerce, Industry & Tourism (“MinCit”) and the ProColombia export promotion agency jointly announced January 9 a new “internationalization factory” scheme that aims to expand exports – hence boosting local employment, corporate profits, resulting tax revenues and a better national balance-of-payments situation. According to MinCit Minister José

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 […]

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

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 […]

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,