Cerro Matoso was forced to pay the state nearly $20 million in royalties following an audit by the Colombian Comptroller General’s Office, various media reported Monday.
The royalties should have been paid during the years of 2008 and 2009, after the Colombian mining authority Ingeominas was restructured.
The comptroller found in June 2011 that multi-national mining companies owed the state $224 million in royalties and overdue taxes.