For Glencore, Colombia is no longer profitable

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It is a page that is turned. Glencore, the global commodities giant based in Zug, announced on Thursday the shutdown of most of its activities in Colombia. After thirty years of good and bad luck, its local subsidiary Prodeco returned the concession to operate the coal mines of Calenturitas and La Jagua, in the north of the country. The Swiss group will only maintain its 30% stake in Cerrejon, the world’s largest open-pit coal mine, alongside BHP Billiton and Anglo American.

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