Colombia opens its Buritica gold mine

The Colombian gold mine Buritica, which the government expects to increase gold production by 25% as it seeks to diversify mining away from coal, opened in a ceremony on Friday in the presence of President Ivan Duque. Buritica, operated by Zijin-Continental Gold, a subsidiary of the Chinese company Zijin Mining Group Co Ltd, is Colombia's first major underground gold project and will initially produce 240,000 ounces of gold per year.

Buritica in the Colombian province of Antioquia has faced security problems in the past. In September 2018, four workers were killed by armed men, prompting then-owner Continental Gold to increase security. Last December, Zijin Mining agreed to purchase Canadian Continental Gold for approximately $ 1 billion. With the inauguration, more than three years of construction, in which $ 610 million was invested, will be completed.

Buritica will start commercial operations in December, creating more than 2,300 direct and indirect jobs. "I'm delighted that we as a country realize that mining can be done in compliance with all social and environmental protocols," said Duque during the opening ceremony. During the projected 14 years of operation, the Colombia mine will generate approximately $ 794 million in taxes and royalties, the company said. "Buritica is synonymous with legal mining that does well, creates jobs, meets all legal requirements, and meets environmental, safety and health standards in the workplace," said Chung Wang, Zijin's executive president for Colombia, in a statement.

Four major gold and copper exploration and production projects, including Buritica, will be fundamental to the Colombian mining industry as it seeks to reduce its dependence on coal, said Minister of Mines and Energy Diego Mesa. Gold production in Colombia was 36.6 tons in 2019.