Latest news with #ColombianGovernment
Reuters
6 days ago
- Business
- Reuters
Colombia's Ecopetrol posts 46% profit slump as oil prices drag
BOGOTA, Aug 12 (Reuters) - Colombia's state oil producer Ecopetrol ( opens new tab on Tuesday posted a 46% slump in its net profit for the second quarter of 2025, dragged by lower global oil prices that weighed on sales, while its production also edged down. Net profit hit 1.81 trillion pesos (around $450 million) in the three months through end-June, compared to the 3.38 trillion it reported a year earlier while total sales landed at 29.67 trillion pesos, down 9% from the same quarter of 2024. Ecopetrol, whose shares are 88.5% held by the Colombian government, pointed to lower prices across its products, including a 20% slump in prices for its crude sales in the quarter, though its gas prices stayed steadier, down just 0.7%. Ecopetrol's total production, meanwhile, edged down 0.5% year-on-year to 755,500 barrels of oil equivalent per day. By the end of June it counted 13.14 trillion pesos in cash and had invested around $2.58 billion, largely in exploration and production projects in Colombia's central Meta department as well as international projects in Brazil and the United States. The energy sector has struggled with price volatility as the OPEC+ group increased its production, pushing global benchmark Brent crude prices down 11% in the quarter. Benchmark Brent crude, opens new tab prices hit $67 per barrel in the second quarter, down from $75 in the previous three months and $85 a year earlier. While other oil producers were also hit by lower prices, both Mexico and Brazil's state-owned oil producers, Pemex ( and Petrobras ( opens new tab, managed to swing back into the black from the losses they logged a year earlier.
Bloomberg
10-08-2025
- Business
- Bloomberg
Villavicencio To Be Officially Named Colombian Foreign Minister
Rosa Villavicencio is set to be confirmed as Colombia's foreign minister as the Andean nation faces fraying relations with the US and neighboring Peru. Villavicencio, who had served as deputy foreign minister, was named to the post in early July to replace Laura Sarabia, who quit. Her CV was uploaded to the presidency's website on Friday, a traditional procedure for incoming government officials. Villavicencio is an economist and holds graduate degrees in migration and international cooperation.
Al Jazeera
19-07-2025
- Politics
- Al Jazeera
Colombia's Petro visits Haiti to help bolster security amid gang violence
Colombian President Gustavo Petro has travelled to Haiti for the second time this year in a significant show of support, as spiralling gang violence continues to plague the Caribbean country. Petro's visit, which began Friday, has focused on talks on security, commerce, education, agriculture and the fight against drug trafficking, the Colombian government said. Petro announced the opening of a Colombian embassy in the country's capital of Port-au-Prince. He has also pledged to help Haiti strengthen its security, offering to train Haitian officers. Haitian delegations have visited a state-owned arms manufacturing company in Colombia to learn about its defence capabilities. The Colombian government shared a brief clip of Petro speaking at the new embassy: 'The time has come to truly unite.' Por fin, tenemos embajada en Haití. ¿Qué fuerzas impedían en la cancillería que hubiera una embajada en el país desde donde salió nuestra independencia? ¿Sería porque nuestra libertad salió fue de los esclavos negros que se liberaron a sí mismos? — Gustavo Petro (@petrogustavo) July 19, 2025 Translation: Finally, we have an embassy in Haiti. What forces in the Foreign Ministry were preventing the establishment of an embassy in the country from which our independence originated? Could it be because our freedom came from the Black slaves who liberated themselves? Petro landed in Port-au-Prince, where 90 percent of the capital is under gang control. He was accompanied by officials, including Colombian Defense Minister Pedro Sanchez. During his visit, Petro met with Haiti's Prime Minister Alix Didier Fils-Aime and its transitional presidential council, which is under pressure to hold general elections before February 2026. The officials arrived less than a week after Haitian authorities killed four suspected drug traffickers and confiscated more than 1,000kg (2,300lb) of cocaine off the country's north coast. The seizure was unexpectedly large for Haiti's National Police, which remains understaffed and underfunded as it works with Kenyan police leading a United Nations-backed mission to help quell gang violence. While most of the violence is centred in Port-au-Prince, gangs have razed and seized control of a growing number of towns in Haiti's central region. At least 4,864 people have been killed from October to the end of June across Haiti, with hundreds of others kidnapped, raped and trafficked, according to a recent UN report. Gang violence has also displaced 1.3 million people in recent years. Petro previously visited Haiti in late January. Before his visit, Haitian officials invested some $3.8m to more than double the runway at the airport in the city of Jacmel, renovate the town and restore electricity to a population living in the dark for at least three years. The two countries are additionally strengthening their ties as judges in Haiti continue to interrogate 17 former Colombian soldiers accused in the July 2021 killing of President Jovenel Moise.
Cision Canada
16-07-2025
- Business
- Cision Canada
ARIS MINING, COLOMBIA'S MINISTRY OF ENERGY AND MINES, AND COMMUNITY PARTNERS LAUNCH FORMALIZATION STRATEGY FOR ACTIVE ASM AREAS NEAR MARMATO
VANCOUVER, BC, July 16, 2025 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces the signing of a Memorandum of Understanding (MOU) led by Colombia's Ministry of Mines and Energy and other regulatory agencies to accelerate the formalization of artisanal and small-scale miners (ASMs) operating in the Municipality of Marmato, where the Company is expanding its operations. Neil Woodyer, CEO, commented "This MOU demonstrates that a successful gold mining business in Colombia is achievable through close collaboration between industry, government, regulators, and local communities. It also highlights the strong institutional support extended to both Aris Mining and the Marmato ASM community and reinforces our shared vision for a responsible and inclusive mining sector. For Aris Mining shareholders, this agreement reaffirms our ability to unlock sustainable, long-term growth. I thank the Colombian Government, especially the Ministry of Mines and Energy, for their leadership in the development and execution of this important initiative. We are proud to stand alongside representatives from the Ministry of Mines and Energy, the National Mining Agency (ANM), the Governor of Caldas, the Mayor of Marmato, CORPOCALDAS (the regional environmental authority), and other key community stakeholders at the official signing ceremony and celebration." The Cerro El Burro area, located above the Marmato Narrow Vein Zone (Upper Mine) and home to highly active ASM gold mining activities since the 16th century, represents a meaningful gold production growth opportunity for Aris Mining. Formalization delivers long-term benefits to all stakeholders—enhancing safety, environmental outcomes, and livelihoods—while strengthening operational stability as the Company grows gold production at Marmato. Under the MOU, Aris Mining and the Government will work together to: develop the regulatory framework and streamline permitting processes needed to accelerate the ASM units' legal operations within Aris Mining's title areas; provide technical support and training to ASM units to help them meet formal mining standards; promote environmental stewardship and safe mining methods; and expand opportunities for social investment and shared value creation in local communities. Importantly, the areas covered by this MOU are entirely separate from the titles where Aris Mining operates its Narrow Vein Zone (Upper Mine) and is developing the Bulk Mining Zone (Lower Mine) at the Marmato Complex. The Bulk Mining Zone and its dedicated 5,000 tonnes per day carbon-in-pulp (CIP) plant will remain a 100% owner-operated project and is not impacted by the formalization initiative. To support the formalized ASM units, Aris Mining will contribute technical, operational, and environmental expertise and has offered milling capacity from our existing Narrow Vein Zone flotation plant to process ASM-sourced material. This MOU forms part of the broader government "Special Mining District for Peace and Life" initiative, which prioritizes Marmato for socio-environmental planning and sustainable mining initiatives. The agreement establishes a collaborative framework to facilitate the transition of ASM groups into the formal economy through use of legal mining and processing operations. It also highlights the Colombian Government's commitment to work directly with established operators such as Aris Mining. About Aris Mining Founded in September 2022, Aris Mining was established with a vision to build a leading Latin America-focused gold mining company. Our strategy blends current production and cashflow generation with transformational growth driven by expansions of our operating assets, exploration and development projects. Aris Mining is listed on the TSX (ARIS) and the NYSE-A (ARMN) and is led by an experienced team with a track record of value creation, operational excellence, financial discipline and good corporate governance in the gold mining industry. Aris Mining operates two underground gold mines in Colombia: the Segovia Operations and the Marmato Complex, which together produced 210,955 ounces of gold in 2024. With expansions underway, Aris Mining is targeting an annual production rate of more than 500,000 ounces of gold, following the Segovia mill expansion, completed in June and ramping up during H2 2025, and the construction of the Bulk Mining Zone at the Marmato Complex, expected to start ramping up production in H2 2026. In addition, Aris Mining operates the 51% owned Soto Norte joint venture, where studies are underway on a new, smaller scale development plan, with results expected in Q3 2025. In Guyana, Aris Mining owns the Toroparu gold/copper project, where a new Preliminary Economic Assessment (PEA) has been commissioned and its results are also expected in Q3 2025. Colombia is rich in high-grade gold deposits and Aris Mining is actively pursuing partnerships with the Country's dynamic small-scale mining sector. With these partnerships, we enable safe, legal, and environmentally responsible operations that benefit both local communities and the industry. Aris Mining intends to pursue acquisitions and other growth opportunities to unlock value through scale and diversification. Additional information on Aris Mining can be found at and on Forward-Looking Information This news release contains "forward-looking information" or forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including, without limitation, statements relating to the benefits to be derived from the formalization of ASM units, the commitments of the various parties under the MOU and statements included in the "About Aris Mining" section of this news release relating to the Segovia Operations, Marmato Complex, Soto Norte Project and Toroparu Project are forward-looking. Generally, the forward-looking information and forward looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The material factors or assumptions used to develop forward looking information or statements are disclosed throughout this news release. Forward looking information and forward looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aris Mining to be materially different from those expressed or implied by such forward-looking information or forward looking statements, including but not limited to those factors discussed in the section entitled "Risk Factors" in Aris Mining's annual information form dated March 12, 2025 which is available on SEDAR+ at and in the Company's filings with the SEC at Although Aris Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The Company has and continues to disclose in its Management's Discussion and Analysis and other publicly filed documents, changes to material factors or assumptions underlying the forward-looking information and forward-looking statements and to the validity of the information, in the period the changes occur. The forward-looking statements and forward-looking information are made as of the date hereof and Aris Mining disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
Yahoo
10-06-2025
- Business
- Yahoo
Gold coins from 'world's richest shipwreck' reveal 300-year-old depictions of castles, lions and Jerusalem crosses
When you buy through links on our articles, Future and its syndication partners may earn a commission. New details of gold coins found off the coast of Colombia around the "world's richest shipwreck" verify they are from the Spanish galleon San José, a treasure ship that sank in 1708 during a cannon duel with British warships. The galleon was laden with up to 200 tons (180 metric tons) of gold, silver and uncut gemstones when it sank, and the treasure's modern value may be as high as $17 billion, Live Science previously reported. Colombia's government hopes to recover some of the artifacts for a dedicated museum that is yet to be built. But there are opposing claimants, including the Spanish government, which asserts the wrecks of its naval vessels, no matter how old, remain the property of Spain. The authors of a new study, published Tuesday (June 10) in the journal Antiquity, include researchers from Colombia's navy and other Colombian authorities. Their analysis included studying images taken by remotely operated vehicles (ROVs) of dozens of rough coins that now lie scattered around the wreck at a depth of roughly 1,970 feet (600 meters). In 2015, Colombia's government announced that it had located the San José in the Colombian Caribbean near the city of Cartagena, and the observations were made during four ROV expeditions to the wreck in 2021 and 2022. According to the study, the observations confirm that the coins and the nearby wreck debris are from the 1708 wreck of the San José. Related: Treasure trove of gold and jewels recovered from a 366-year-old shipwreck in the Bahamas The researchers describe seeing dozens of rough gold coins — the total number is not known — at several locations within the shipwreck, surrounded by other artifacts from the cargo, guns and everyday life as it was on board more than 300 years ago. They used high-definition photography to closely examine the coins and determined that they had an average diameter of 1.3 inches (32.5 millimeters) and a likely weight of 27 grams (about 1 ounce). The ROV images revealed the coins' designs. One side has a variation of a Jerusalem cross — one large cross surrounded by four smaller crosses — and a shield decorated with castles and lions. On the back, these coins show the "Crowned Pillars of Hercules above the waves of the sea," with the waves being unique to the Lima Mint, the researchers wrote in the study. They also noted that some bore distinctive marks that had been hammered into the metal, including the marks of an assayer — an expert who tests the purity of metal — from the Spanish mint in Lima, now the capital of Peru, in 1707. By cross-referencing their observations with colonial records, the researchers determined that the coins and other artifacts came from the San José, the study said. Study lead author Daniela Vargas Ariza, a maritime archaeologist at Colombia's Almirante Padilla Naval Cadet School in Cartagena and the Colombian Institute of Anthropology and History in Bogotá, said these colonial Spanish coins were often cut from gold or silver ingots. "Hand-struck, irregularly shaped coins — known as cobs in English and macuquinas in Spanish — served as the primary currency in the Americas for more than two centuries," she said in a statement. The San José wreck is one of the most valuable ever found, and there are intense legal disputes about who has the right to recover it — although it's not known if that's possible. Colombia hopes some of the treasure could be sold to pay for the archaeological recovery effort of the entire ship, but Colombian law may prohibit selling anything deemed a historical artifact. RELATED STORIES —Ming dynasty shipwrecks hide a treasure trove of artifacts in the South China Sea, excavation reveals —Coins worth over $1 million recovered from 1715 Spanish treasure shipwrecks in Florida —Avast, matey! 5 of the biggest pirate hauls in history Spain also claims the shipwreck and all of its treasure, under an international convention on the Law of the Sea that states the wrecks of naval vessels belong to their original nation. But Colombia hasn't ratified that convention, and critics say the provision is intended to protect modern warship technologies, not centuries-year-old treasure wrecks. The San José was leading a treasure fleet of 18 ships from Cartagena bound for Europe on June 8, 1708, when it was attacked by a squadron of five British warships; Britain was Spain's enemy during the War of the Spanish Succession at that time. The three largest Spanish galleons fired back with their cannons, but the San José blew up and sank when its stores of gunpowder exploded; most of the Spanish fleet fled to safety in the harbor at Cartagena.
