Colombia's coal production is poised to reach 71.9 million tonnes this year, driven by advantageous weather conditions in mining regions, according to the Colombian Mining Association (ACM).

If the projection holds true, coal production is expected to rise 10.7%, surpassing the 64.9 million tonnes produced in 2022, as stated by the ACM.

Coal, along with oil, is a major contributor to Colombia's foreign currency earnings, tax revenues, and royalties. However, under the leadership of leftist President Gustavo Petro, the government aims to decrease the country's reliance on fossil fuels and transition towards renewable energy sources.

The ACM anticipates that Colombia's mining exports could reach a value of $4.96 billion this year, a 32% increase, driven by exports of thermal coal, gold, coke, and nickel, contingent upon favorable conditions in international markets.

Juan Camilo Narino, President of the ACM, stated, "We expect coal production to grow by 7 million tonnes," highlighting that 64 million tonnes will be thermal coal, while 7 million tonnes will be metallurgical coal.

The ACM forecasts that tax and royalty contributions from the mining sector could amount to approximately 15 trillion pesos ($3.38 billion) this year, a threefold increase compared to the previous year.

(Writing by Alex Guo  Editing by Emma Yang)
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