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Peña Mancero Abogados | Colombia | 2 Apr 2013
Mergers and acquisitions in oil and mining sector remain steady
According to preliminary estimates by the Ministry of Commerce, Industry and Tourism, foreign direct investment for 2013 is expected is to be approximately $15.5 million. This figure, which exceeds the figure for 2012, is predicted to be principally focused on the oil and mining sector - and there is no indication that the wind will change any time soon. Thus, there are great opportunities in......
Peña Mancero Abogados | Colombia | 2 Apr 2013
Key players seek SIC approval for M&A activity
Several significant players in Colombia's energy sector have applied for approval from the Superintendence of Industry and Commerce (SIC) for key mergers or acquisitions. The SIC has been approving, objecting and conditioning mergers and acquisitions since 2001 in order to avoid concentrations of economic power in the market.
Peña Mancero Abogados | Colombia | 25 Mar 2013
Independent regulatory commission a major strength
In less than a decade Colombia has moved from being a country in an energy crisis to a regional power provider. The electricity sector owes its current strength to the fact that it is regulated by the independent Colombian Energy and Gas Regulatory Commission, which applies strict technical and financial criteria to ensure the smooth running of the sector and its expansion.
Peña Mancero Abogados | Colombia | 25 Mar 2013
Coal producer receives Ps60 billion pay-out from government
The Ministry of Transport has paid Drummond – a multinational company exploiting coal on the north coast – nearly Ps60 billion (more than $30 million) for breach of contract, in compliance with a decision of the Court of Arbitration of the Paris Chamber of Commerce. The Civil Cassation Chamber of the Supreme Court had to decide whether the Paris court's award was in line with Colombian......
Peña Mancero Abogados | Colombia | 25 Mar 2013
Alarm bells ring over downturn in mining and oil production
Mining has become a major source of growth for Colombia's economy during the last decade, and was recently designated as an engine for economic development by the government. In 2012 mining accounted for more than 23% of the country's total exports. However, many fear that 2012 marked a turning point in the mining sector's upward dynamic. But all is not lost - there is some positive news.
Peña Mancero Abogados | Colombia | 18 Mar 2013
Government seeks additional two-year extension for approval of new Mining Code
The Colombian government has just requested the Constitutional Court to extend for an additional two years the deadline by which a new Mining Code must be presented to Congress, as the necessary consultation with ethnic communities has proved difficult and the process has been delayed.
Peña Mancero Abogados | Colombia | 11 Mar 2013
Oil production hindered by delays in environmental licence processing
Oil companies operating in Colombia have stated that production will continue to be adversely affected by the slow pace of environmental permit processing in the country. While in 2009 it took just five to six months to obtain environmental approval for such projects, by 2011 this had increased to 371 days on average. The delays have paralysed production in important oil and gas areas of the......
Peña Mancero Abogados | Colombia | 21 Jan 2013
Examining trends in the energy and mining sectors for 2013
The Colombian energy sector welcomed in 2013 with news of privatisations. The Ministry of Economy announced plans to privatise several electricity assets – mainly generation and distribution companies – to raise Ps3 billion. In the mining sector, the National Mining Agency has re-negotiated the extension of the mining concession contract for the Cerro Matoso project, the largest......
Peña Mancero Abogados | Colombia | 17 Dec 2012
Coal production reaches 90 million tons in 2012
According to the Mining Information Service, production of coal in Colombia in 2012 reached an output of between 90 and 91 million tons. This amount is lower than the 2012 goal set by the Ministry of Mines and Energy, which initially had calculated a production threshold of 97 million tons. However, coal exportation in 2012 – 85.8 million tons – was greater than the amount exported in 2011.
