Home Colombian News Money, Finance, Economics Colombia sees doubling coal output by 2019
Colombia sees doubling coal output by 2019 PDF Print E-mail
Colombian News - Money, Finance, Economics
Sunday, 15 August 2010 14:14

BOGOTA Aug 13 (Reuters) - Colombian Energy Minister Carlos Rodado said on Friday the country's coal production would rise to up to 145 million tonnes by 2019 and gold output may double to 80 tonnes in nine years.

Latin America's No. 4 oil producer has seen a boom of investment in its commodities sector due to an improved business climate and better security thanks to a U.S.-backed military offensive against leftist guerrillas.

"The goal we have for expansion of coal production is to pass from 72 million tonnes this year to a figure of around 144 to 145 million tonnes in 2019," Rodado told reporters. He gave no reason why coal production would double.

The world's No. 5 coal exporter expects investment in its booming oil and mining sectors to hit $62 billion between 2008 and 2015.

In July, an expert panel said coal exports -- based on central bank and finance ministry estimates -- would hit 119 million tonnes in 2021 from 76.9 million tonnes this year.

The nation's mining regulator said earlier this month that metallurgical and thermal coal exports rose 12.5 percent in the first half of the year versus a year ago.