Colombia is geologically unique, having a triple-plate junction which sees 3 tectonic plates meet under the country, making it one of the most diverse and prospective countries in Latin America and possibly the world. Formally the largest gold producer in South America, Colombia has produced ~100 Moz over the last 500 years. Mining is a significant sector of the economy with the production of gold, nickel, silver, platinum, copper, coal and emeralds.
Only 5-10% of Colombia has been explored using modern exploration techniques and most of this only within the last decade due to a history of civil unrest.
Most of the exploration is focused on Au/Ag hydrothermal and placer deposits with limited exploration of the larger porphyry Cu/Au deposits. Over the last 7 years more than 100 Moz of gold resource have been defined from porphyry-style deposits with several recent discoveries of greater than 10 Moz in size, highlighting the potential for significant upside with the establishment of more sophisticated exploration activities.
Named by the World Bank in 2016 as the third friendliest business destination and leading reforming country in Latin America, Colombia is attracting significant international direct investment.
Modern telecommunication and infrastructure plus Free Trade Agreements with USA, Canada & European Union and the Pacific trade alliance (Mexico, Peru & Chile) and a well-educated, professional work force all make Colombia a solid place to do business.
3rd largest economy in South America (GDP US$500 billion) after Brazil and Mexico.
Mining Royalty of 3.2% plus a tax rate of 34%.
Australia opened its 5th South American embassy in Bogota in July 2017 with the Trade in Services Agreement (TiSA) with Australia.