<p>Swiss multinational Glencore subsidiary Prodeco has obtained approval from Colombian mining regulator ANM to hand back its concessions for the halted La Jagua and Calenturitas coal mines, in Cesar department, which it had requested in February. Glencore said “Further to the announcement on 4 February 2021, Glencore can confirm that its Colombian subsidiary, Prodeco has been formally notified by the National Mining Agency that it has accepted the relinquishment of Prodeco’s key mining contracts back to the Republic of Colombia. The mines will remain on care and maintenance until the formal process of relinquishing the contracts is complete. The decision to halt operations is in line with the goals of the Paris Agreement.” </p><p>Glencore added “In the last 30 years it has invested more than USD 3 billion in Colombia and paid around USD 3 billion in royalties and taxes, but restarting operations is not economically feasible.”</p><p>Prodeco was the third largest thermal coal exporter in Colombia, after Cerrejón and Drummond. In 2020, Prodeco's production fell 76% to 3.6million tonnes.</p>
<p>Swiss multinational Glencore subsidiary Prodeco has obtained approval from Colombian mining regulator ANM to hand back its concessions for the halted La Jagua and Calenturitas coal mines, in Cesar department, which it had requested in February. Glencore said “Further to the announcement on 4 February 2021, Glencore can confirm that its Colombian subsidiary, Prodeco has been formally notified by the National Mining Agency that it has accepted the relinquishment of Prodeco’s key mining contracts back to the Republic of Colombia. The mines will remain on care and maintenance until the formal process of relinquishing the contracts is complete. The decision to halt operations is in line with the goals of the Paris Agreement.” </p><p>Glencore added “In the last 30 years it has invested more than USD 3 billion in Colombia and paid around USD 3 billion in royalties and taxes, but restarting operations is not economically feasible.”</p><p>Prodeco was the third largest thermal coal exporter in Colombia, after Cerrejón and Drummond. In 2020, Prodeco's production fell 76% to 3.6million tonnes.</p>
