Prompting Investment in Colombia due to Oil Blooming and Mining

One of the South African deepwater drilling company AngloGold Ashanti Ltd.

, invested $159 million and it could produce 800,000 ounces of gold annually told by Ivan Malaver. Manuel Rodriguez, first environment minister told that many companies are expecting to extract gold from mines nearly 125,000 barrels per day and heavier investment are to be made. Few areas are considered as high risk regions where the military forces are deployed. Few workers were burnt and restrained by FARC. Avila told tremendous amount is to be invested foreign countries in exploring the region.Peru and Chile is vying for investment in mining. 40 percent of the land has been legally prohibited due to natural resources and ecology sensitive areas. In Colombia previous year, Greystar Resources Limited has invested $140 million.

Columbia stands third in the production of Oil in South America succeeded by Brazil and Venezuela. Government of Columbia aims to produce more than one million barrels of crude per day by the year 2012 by reduplicating its production which was in the year 2006. The Complete details on investing in energy, energy investments, investments in energy are found in our site Oil Investments . Nearly 90 % of today's production is contributed by Ecopetrol which is State owned. 80 percent of the entire $ 7.2 billion of foreign direct investment of the country, last year will flow to the oil and mining with investments in that sector have almost doubled to 3.1 billion dollars. Enlivening growth in security gains and capitalistic-friendly investment boosts mining and Oil blooms in Colombia which was previously unknown. Colombia is considered most deserving place by the investors and many parts of the country is been overworked by the illegal armed forces regularly. According to Roberto Melzi, analyst of Barclays Capital the car bombing on Tuesday in the capital "will not be an issue for the foreign Investors".

Patrick Esteruelas of Eurasia Group stated that companies are looking for undiscovered markets and Columbia has been rising. In 2009 Ecuador, the continents fifth largest producer got a sum of $312 million as foreign investment by contract. Under the rule of new President Juan Manuel Santo, the government is estimating a goodish jump in gross domestic product around 4.5 percent this year. Colombia's Foreign Ministry expects to attract 10 billion dollars investment this year, almost a recorded 10.6 billion dollars in 2008.Venezuela and Ecuador have taken many investors and revised their energy oil contracts, increase royalties and taxes as many multinationals opted to pull out. Strong inducements were provided by outgoing Colombian President Alvaro Uribe. Esteruelas articulated that "Colombia is one few Latin American countries, mainly offering strong contractual guarantees for periods of two decades". During Uribe's eight years rules, which ended on August 7, Colombia's oil reserves grew 22 percent to 1.9 billion barrels with production propelling 45 percent.

Prompting Investment in Colombia due to Oil Blooming and Mining

By: Andrews Boaz

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