Colombian coal exports plummet after ban on sales to Israel

(Patria) - Colombia's coal exports fell by nearly half in July compared to the same month last year, official data showed on Wednesday, amid a global price crisis and days after President Gustavo Petro banned sales to Israel, AFP reported.

Colombia is a leading coal producer in Latin America, but the sector has been shrinking for five consecutive quarters due to falling international prices and domestic policy.

The country exported coal worth $479.8 million in July, a drop of 45.8 percent compared to $885.8 million sold in July 2024, according to data from the National Administrative Department of Statistics.
Local mining unions blame increased production in Indonesia for the decline in global prices.

Last month, Petro issued a second decree ordering Colombia to halt coal exports to Israel in protest against the war in Gaza, reinstating a decree from June 2024.

Colombia was previously a major supplier of coal to Israel.

In a broader effort to achieve sustainability, the leftist president has introduced higher taxes on coal with the aim of steering his country toward renewable energy sources.

Since coming to power in 2022, Petro has halted several mining projects and instead promoted agriculture and tourism as alternative sectors for the approximately 350,000 people employed in mineral exploration.

However, some miners told AFP they fear losing their jobs, while towns whose economies rely on the industry are also feeling the consequences.

El Cerrejon, Colombia's largest coal mine operated by Anglo-Swiss firm Glencore, said in March it would cut production by fifty percent due to high operating costs.