Colombia predicts $10B investment in mining and energy

Colombia’s Energy and Mining Minister Mauricio Cardenas expects a $10 billion investment in crude oil, energy and mining projects in 2012, reported Bloomberg.

Cardenas made the prediction in an interview at the World Economic Forum in Davos, Switzerland.

Colombia’s energy and mining sectors are experiencing a boom. In 2011, 82% of the foreign direct investment in Colombia went to the energy sector and FDI grew by 113% from 2010 to 2011 to $14.4 billion.

Cardenas has been networking and making contacts at the forum. He met the president of Chilean copper company Codelco Tuesday and according to his Twitter page, the minister also met with M. Al Shaibani, CEO of the Investment Corporation of Dubai Thursday.

Cardenas tweeted “M Al Shaibani told me ‘I have heard very good things about your country, I want to go and evaluate opportunities.’ He manages a fund of $40 million.”

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