About Colombia
Colombia has become a major destination for mineral exploration and development and is one of the more advanced economies in South America. Historically having been the largest gold producer in Latin America, Colombia offers a large potential for future gold production. Political reforms in 2002 have led to increased security and accompanied large amounts of foreign direct investment, specifically in mining and exploration.
Colombia Highlights:
- 3rd friendliest country in Latin America to do business and 1st in investor protection (World Bank)
- 2nd most qualified labour force (International Mining and Development)
- Real GDP growth of 4.5% for 2012 (IMF)
- Mine royalties to government: 3.2%
- In 2011, FDI grew 56% to $14.8 billion, 82% was in the oil and mining sector (Globe and Mail)
- Colombia’s mining and energy sector investment to reach $57 billion over the next 5 years (Colombia Reports)
