Mining sector proposes new revision to the model of royalties

Mining sector proposes new revision to the model of royalties

The guild also warns about the advancement of illegal mining.


The President of the Colombian Mining Association (ACM), Santiago Ángel, said that it is necessary to revise the model of royalties and discuss the proposal of works by taxes as a structural reform for the future of the sector.


This was indicated by the trade union leader, during the mining Congress taking place in Cartagena.


Angel also warned that “illegal mining is a cancer that we must attack, 30% of the country is affected by illegal mining, we celebrate the actions of the national Government to combat illegal mining, but we must work more.”


He argued that “we must regain confidence in the mining sector, we have a very important opportunity because we have enormous geological potential, but we need rules of play, regulations and legal certainty to move forward.”


He said that in Colombia more than 90% of the municipalities do not include the mining issue in their territorial planning plan, “it is necessary to work with both the national government and the regional and local authorities to confront the country’s current and future challenges in this area to give security to the investment for the benefit of the regions.”


He said that the mining sector is betting to grow more than 5% jalonando the Colombian economy becoming again the locomotive that drives the economy of our country that in the last 5 years reports investments US $7,500 million.


In the last year the country’s royalties surpassed $18 trillion.

Originally posted in La FM.

Original Article: 👉 Here

Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

Welcome to Colombia Mining Center!
We are a mining information portal that presents news and updates as they are seen inside Colombia and from the world, bringing together the whole picture for mining investment in Colombia. Here you will find:
  • 1) Press releases from companies advancing mining operations in Colombia in English and Spanish.
  • 2) Relevant news from the Colombia mining industry from Colombia and international sources.
  • 3) A weekly snapshot with stock performance of mining companies with assets in Colombia, along with key investment metric and powerful investment tools and insight.
  • 4) Quarterly investment analysis, industry updates and special coverage reports.
  • 5) A set of technical and legal resources to complement your mining investment research.