SAN FRANCISCO, CA–(Marketwired – October 20, 2015) – Paul Harris, editor and publisher of Colombia Gold Letter, knows Colombia well and realizes that the country requires more investor patience than many are willing to give. The next 12-24 months will largely determine Colombia’s long-term perception as a mining jurisdiction, but is quick to add that some current stories are already panning out. In this interview with The Gold Report, Harris discusses some companies getting the best out of Colombia and others that hope to.
Included in this interview with Harris is: Red Eagle Mining Corp. (TSX VENTURE: RD).
The Gold Report: What’s the sense of the current government attitude toward mining investment? Are its actions at odds with public statements?
Paul Harris: Over the last 10 years, the government’s attitude toward mining investment has been positive inasmuch as the message has always been, “We want mining investment.” The government recognizes that mining can help advance and develop the country. The issue is that there’s a big gap between what the government says it wants and the practical implementation of those desires.
Middle-level government and local government haven’t been able to create a system that both attracts mining investment and allows the necessary activity to happen, such as getting regulations and legislation working so that mineral exploration and development can progress smoothly in a reasonable timeframe. That has been the Achilles heel of the mining sector in Colombia. A company enters an administrative process, and there’s no sense of when it’s going to get out on the other side, particularly regarding environmental permits.
TGR: Are there tangible signs that mining investment is welcome?
PH: Colombia was successful in attracting a lot of mining investment. About 30 years ago several big nickel and coal mines were built and those have done well. The government has since gone out of its way to promote…
Continue reading this interview: Paul Harris Preaches Investor Patience in Colombia
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Red Eagle Mining Corp. is a sponsor of Streetwise Reports. Paul Harris had final approval of the content of the interview and is wholly responsible for the validity of the statements. Opinions expressed are the opinions of Mr. Harris and not of The Gold Report or its officers. The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.