Mining could become a major growth engine for the economy of Colombia. This was stated by the head of the Colombian Mining Association Santiago Angel. In particular, the development of this industry requires at least $1.5 billion in investments.
Colombia's biggest mining sectors are in coal and gold. Angel said that copper is showing enormous potential and could become a viable new product in the coming years. According to government statistics, the mining industry in recent years has been suffering a decline and needs urgent reforms. In the past year, the volume of the industry fell 6.5%.
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