Colombia’s coal exports fell by almost half in July compared to the same month last year, official figures show, amid a global price crisis and days after President Gustavo Petro’s ban on sales to Israel.
Colombia is Latin America’s leading coal producer but the sector has contracted for five consecutive quarters due to the collapse of international prices and domestic policies.
The country exported $479.8 million worth of coal in July, a 45.8 percent drop from the $885.8 million sold during July 2024, according to the National Administrative Department of Statistics.
Local mining unions blame increased production in Indonesia that has driven down global prices.
Last month, Petro issued a second decree for Colombia to halt coal exports to Israel, renewing a June 2024 edict.
Colombia was previously Israel’s top coal supplier.
In a broader push for sustainability, the leftist president has imposed higher taxes on coal with a view to moving his country toward renewable energies.
Since coming to power in 2022, Petro has also halted several mining projects and instead promoted agriculture and tourism as alternative sectors for the roughly 350,000 people employed in mineral exploration.
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