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METALS AND MINING

US government will now work with Colombia to develop its mining industry

US government will now work with Colombia to develop its mining industry
The Siliconreview
20 October, 2020

Mike Pompeo, the US Secretary of the State, recently made an announcement that his office is launching a program that will provide tech support to develop the mining industry of Colombia. The new initiative will be coordinated and overlooked by the State's energy initiative and capacity initiative department. Pompeo told the President of Colombia that the new initiative is under a positive investment climate, and the rules are very much transparent and fair. The initiative will provide real jobs to people, and private sectors will definitely support this. A US official mentioned that the program would be up and running once the analysis is done on how the Colombian mining industry is performing compared to other countries in the region.

When the analyzing phase is complete, the US department will review the company's regulatory and legal framework and come up with ideas on how to make the existing framework impeccable. Furthermore, this project will be reviewed for sustainability in copper mining, and the focus will entirely be on the storage of mine tailings. The pandemic has halted the mining efforts in Colombia, and almost 33 mining and energy projects are ready to be kickstarted once the pandemic is over.