December 03, 2008

Colombia coal exports in 2007 up by 11.6% YoY

Colombia's mining information website IMC Portal reported that Colombian coal and coke exports came to USD 3.50 billion in 2007 up by 11.6% YoY improvement over the figure registered in 2006

According to the report, coal is now the country's second largest export. It said that exports are primarily destined for the US with 32%, the Netherlands with 17% and the UK with 5%.

The report said that coal prices averaged USD 70.4 per tonne in 2007, showing nominal growth of 33.8% over 2006.

According to earlier reports, Colombia is expected to ship nearly 70 million tonnes of coal in 2008 as local producers boost output in order to supply global demand.

Colombia’s major coal exporters include Cerrejón, equally owned by Anglo American, BHP Billiton and Xstrata as well as US coal miner Drummond and Swiss company Glencore International.