Bloomberg reported that some market watchers believe operating in Colombia may be about to get more complicated. The rumors follow President Juan Manuel Santos’ decision to suspend coal exports from Drummond Company Inc. after the company continued to load coal onto open barges after the practise was banned.
As quoted in the market news:
In a country that spent the last decade inviting investors to its oil and mining industries while trying to extinguish a 50-year war against cocaine-funded rebels, Santos’ decision is being seen as a harbinger for a tougher stance on environmental protection. Public demands and media scrutiny are growing.
‘Over time it’s going to become more complicated to operate in Colombia unless you stick to very strict environmental standards,’ according to Oliver Wack, an analyst in Colombia at Control Risks, a global consultant on security, political and integrity risks. ‘Just like many other countries — only Colombia doesn’t have a history of this,’ Wack said by telephone from Bogota.