Colombia’s coal exports fell by nearly half in July compared to the same month last year, official data revealed Wednesday, as the country grapples with collapsing global prices and recent restrictions on sales to Israel.
Colombia, Latin America’s top coal producer, has seen its mining sector shrink for five straight quarters. Exports totaled $479.8 million in July, down 45.8 percent from $885.8 million in July 2024, according to the National Administrative Department of Statistics. Mining unions blame oversupply from Indonesia for driving international prices lower.
The decline comes days after President Gustavo Petro renewed a decree banning coal exports to Israel in protest against its war in Gaza. Colombia had been Israel’s leading coal supplier.
Petro, who took office in 2022, has raised coal taxes and blocked several mining projects as part of his strategy to shift the country toward renewable energy, agriculture, and tourism. While he argues this transition will create sustainable opportunities, many miners fear losing their jobs, and towns reliant on the industry are struggling.
El Cerrejon, the country’s largest coal mine operated by Glencore, announced earlier this year it would slash production by 50 percent due to high costs.
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