Colombia accepts relinquishment of Glencore's Prodeco contracts
Diversified major Glencore said on Monday that Colombia had accepted the previously-denied request of its Prodeco subsidiary to hand back its licences for coal mines in that country.
Glencore in February approached the government to start the process of relinquishing its contracts after the National Mining Agency (ANM) declined a request to prolong the shutdown of the Calenturitas and La Jagua mines.
The mining company argues that the mines, which were placed on care and maintenance in March 2020, are uneconomic to operate.
Glencore reported on Monday that the mines would remain on care and maintenance while the process to relinquish the contracts was completed.
Glencore also confirmed that it would “comply fully with all its environmental and social obligations arising from its mining operations and the termination thereof”.
Newswire Bloomberg previously cited Mines and Energy Minister Diego Mesa as saying that Colombia hoped to find a new operator for the mines that Glencore is handing back. The country would be pitching the mines to Asian operators.
Glencore also owns the Cerrejon mine, in Colombia, and recently struck a $588-million deal to acquire full ownership for the coal mine from joint venture partners BHP and Anglo American.
The commodities major has a stated commitment to responsibly manage the decline of its coal portfolio, while its diversified peers are exiting coal mining.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation