China May Accelerate Mining for Coltan in Eastern Colombia

By Heather Walsh - May 8, 2012 12:02 PM GMT-0500

China may accelerate development of coltan mines in Colombia as it taps commodities reserves across Latin America.

The two nations are studying possible projects in Colombia’s eastern provinces to produce minerals including coltan, used in mobile phones, Colombian Mines and Energy Minister Mauricio Cardenas said today in Beijing, according to a government statement.

“They are the most expensive ores in the world and they are strategic,” Cardenas said in the statement.

China is investing in Latin America to guarantee supplies of copper, oil and minerals like coltan. Colombia’s President Juan Manuel Santos is visiting China this week to strengthen trade ties and increase his nation’s exports.

Colombia is mapping out mining areas that will be accessible to companies that demonstrate enough investment capacity, according to Cardenas.

To contact the reporter on this story: Heather Walsh in Bogota at hlwalsh@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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