Ingeominas to concession coal, iron, gold areas - Colombia

Colombia's geology and mining bureau Ingeominas is preparing to concession areas containing coal, iron and gold deposits in different parts of the country, Ingeominas director Mario Ballesteros told BNamericas.
"The new mining law permits the creation of special state reserve areas for concessions and I believe this will be better for national and foreign investors," Ballesteros said.
The coal concessions will be awarded out during H2 and the final studies are currently being carried out.
For iron and gold, Ballesteros said that the studies are also being carried out to define the state reserve areas, after which the concession process will be launched.
The new mining law allows Ingeominas to define state reserve areas and concession them to the highest bidder. Under the old system, free areas were handed over on a first-come, first-served basis.
"A number of companies have expressed interest in participating in these concession processes," Ballesteros said.
Ingeominas is part of the mines and energy ministry (Minminas).
The new mining law was approved by the government in February.
By Harvey Beltrán