The Colombian mining sector continues to be an attractive investment market and companies are undergoing major production expansions (especially coal and nickel), and several large foreign firms are setting up their branches in Colombia and are applying for exploration rights to develop new coal, gold and copper mines. This investment is also attracting new smaller firms into the country.

In 2005, the government approved the elimination of import duties for equipment, spare parts, and accessories destined for various mining activities (production, processing, transformation and transportation). This benefit will expire in October 2010, and will allow for enhanced market access for U.S. exporters given a favorable exchange rate, better product quality and relative proximity to Colombia.

Best Products/Services

Most Colombian mines are open-pit mines, although there are some smaller underground mining operations. Best prospects for mining equipment include shovels, excavators, front loaders, tracked tractors, off-road hauling trucks, and related equipment and parts. Best opportunities for construction equipment include excavators, backhoes, concrete pumping equipment, pavement equipment, pavement recycling equipment, tamping and compacting equipment, and other public works equipment and spare parts.

Opportunities Coal Expansion Projects: Drummond Ltd., Carbones del Cerrejon, and Glencore International are involved in major expansion projects that involve equipment fleet upgrades (mainly shovels, loaders, hauling trucks), and infrastructure development (including the construction of new railroad tracks, locomotives and other transportation equipment).

Delegations From Colombia Attending MINExpo 2008