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Colombia extends Drummond contract on coal mine for 20 years

Colombia has extended coal miner Drummond's license to operate its La Loma mine for an additional 20 years, the national mining agency said on Thursday.

The contract at the mine, located in northeastern Cesar province, will generate at least $586-million in royalties, income and social project investment during its lifetime, the agency said in a statement on its website.

Red flags raised over Coal Ministry's plans to liberalise capital coal mining

Several government departments have raised red flags over the Coal Ministry’s proposal to liberalise captive coal mining in the country. The departments contend, in internal discussions, that the regulatory framework is not in place to support the Coal Ministry’s plans to permit captive coal miners free merchant sale of production from their respective coal blocks.