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National mining agency at Expomin 2021

Mining rounds: objective selection processes for the awarding of strategic mining areas

Publicada: Monday 9 de August del 2021
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Mining rounds: objective selection processes for the awarding of strategic mining areas The Colombian National Mining Agency will present to the Expomin audience the Mining Rounds 2021 for the awarding of Strategic Mining Reserve Areas (AEM). The AEM are special free areas with high potential for strategic minerals for the country, in which, once the area is delimited by the Mining Authority, it is not possible to receive new proposals or sign mining concession contracts. Instead, they must be awarded in a special concession contract through objective selection processes. The Colombian government started in 2021 the process for the awarding of several blocks that meet the basic requirements of being free and having high potential to present copper deposits in the north of the country. This process began once the requirements established in the regulations were met and in accordance with the requirements of the Colombian High Courts. This is an alternative process for the execution of mining contracts in Colombia, based on competitive and transparent conditions, to select those who offer the best technical, economic, social and environmental conditions for the exploitation of the resource. To date, progress is being made in the process of declaring AEM for blocks with high phosphate potential, whose selection process is expected to be launched in September 2021. Similarly, blocks with potential for gold and precious metals are being prepared and are expected to be ready by the end of 2021 or early 2022. Portfolio of mining projects in Colombia As part of the strategy to promote and attract investment in the Colombian mining sector, the National Mining Agency will present to potential investors and other interested public, the portfolio of mining projects related to the most representative minerals in the country, which have a significant level of progress in the stages of exploration, construction and assembly and exploitation. By means of a detailed and dynamic x-ray of each project, the portfolio is made up of information sheets with data on economic, social and environmental factors, among others. This portfolio is complemented by the projects that have been presented to different audiences since 2020, through a series of business roundtables organized by the National Mining Agency, with the purpose of generating a platform to bring the national supply of minerals and mining projects closer to national and international demand. Neutral coal strategy Within the framework of Expomin, we will present the Neutral Coal Strategy, an initiative that will generate an added value to Colombian export coal, through a new product called “neutral coal”. This product would be associated with the compensation of a percentage of the GHG emissions caused by its combustion. The buyer/importer country of the “neutral coal” would obtain the offsetting of emissions, which would generate an incentive for this country, since the offsetting would be accounted within its national goals. This strategy would allow maximizing revenues derived from the mineral in a scenario compatible with the sustainable development goals linked to the Paris Agreement and the commitments of the Sustainable Development Goals. INTERNATIONAL STANDARDS FOR REPORTING MINERAL RESOURCES AND RESERVES To facilitate the transparency of mining information to the State, since 2020 the National Mining Agency has determined that all mining projects must submit information adjusted to the international standards adopted by CRIRSCO and must be updated annually to the mining authority. markets and the general public, should inform through a common platform that hasclear concepts on criteria and practices for evaluation of exploration results, the updated mineral resources and reserves.. This is a strategy that develosp good practices in the extractive sector, for an adequate assessment of uncertainties and risks in the development of engineering studies executed during phases in mining projects, where the information generated has a value and the eventually discovered quantities, become a mining asset. Mining information bank As a sectorial project between the National Mining Agency and the Colombian Geological Service, the Mining Information Bank – BIM has been created for Colombia. This bank will store and make available all the geological information obtained in the exploratory activities throughout the development of the mining project. The BIM will be managed by the SGC and will be fed with digital information and geological material provided by the mining owners, which will be required by the Mining Authority. These are the advantages of having the Mining Information Bank: Centralized management of the country’s geological information. Standardized quality information. Offer investors reliable geological information. Supply geoscientific information to the scientific and academic community. Provide consolidated information to the public sector as an input for land use planning. Increasing the country’s competitiveness in the mining-energy sector. Planning of sustainable mining projects Tool for the evaluation of technical studies and to optimize the supervision for the mining authority.

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