Coal news and updates

Global action to address climate change and greater demand to use sustainable energy are problems for coal exports, but the Colombian mining association (ACM) says that there are still big markets, the most important of which are now in Asia.

 

"We were used to selling all the production from Colombian mines to Europe, which is no longer going to buy it, but that doesn't mean that they're follow the same dynamic in other parts of the world," Nariño told BNamericas. “What has changed is the market. Now the greatest demand is going to be in Asia and other regions.”

 

According to Nariño, in the future there will be great competition for new markets and Colombian coal will play an important role in them, provided it is extracted sustainably and at lower costs.

 

He pointed out that two major markets for Colombian coal are Indonesia and Australia.

 

The ACM executive added that Glencore's recent acquisition of the Cerrejón mine, the largest in Latin America, located in La Guajira department, is an important signal about the future of Colombian coal.

 

"Glencore's commitment to Cerrejón, Colombia and coal gives us the signal that this mineral has a future and has an important market that we must take advantage of, although we don't know for how many years," said Nariño.

 

Coal is Colombia's second largest source of export revenues after oil, although the country is looking to reduce its dependence on the mineral and attract more investment in gold and copper.

 

Last year, Colombia's coal production declined due to the global health crisis, the transition to renewables in the US and Europe, and a 91-day strike at the Cerrejón mine.

 

Source : https://www.bnamericas.com/en/news