Although Colombia has produced billions of carats of emeralds, a tiny percentage of Colombia emerald deposits have been exploited, which provides a unique opportunity for emerald mining and exploration in the region. Although formerly the largest emerald producer it is still the world’s number one source of high-end auction quality emeralds.
Since the death of Victor Carranza in 2013 the emerald region of Boyaca is now open to foreign investment. At the same time, Colombia´s cities have prospered and developed into modern business hubs, complete with the high standard of infrastructure and services that exploration and mining companies require.
Colombia has a rich history of hosting top quality mineral resources in gold, coal and nickel. The mining and resources sector is a significant contributor to the Colombian economy and one of the country´s largest export sectors.
Colombia also has one of the highest percentages of public utility coverage in South America. It has modern telecommunications infrastructure and has invested substantially in transportation infrastructure, as well as many government incentives, tax breaks, low-cost and skilled labour force.
“Colombia’s economic performance remains solid. I commended the government’s policy response to the sharp drop in world oil prices by strengthening fiscal policy more than required under the fiscal rule and by tightening monetary policy while allowing the exchange rate to depreciate. The agenda to upgrade infrastructure is a key reform that will improve the country’s prospects over the medium term.”
– Christine Lagarde, International Monetary Fund’s Managing Director, February 5, 2016