Colombia’s Critical Minerals Could Be a Game Changer for America
Qatar Offers Lebanon 2 Gas Plants and 20 Years of LNG Piped Through Syria As Oilprice’s South America correspondent, I cover Colombia (where I currently live), Venezuela, Ecuador, Peru, Brazil, Argentina, Chile, Bolivia, Paraguay, Guyana, Suriname and Uruguay.
I… Since taking office, Colombia’s far-right president, Abelardo de la Espriella, has moved aggressively to restore ties with Washington after relations frayed under Gustavo Petro.
The rapprochement revives a decades-old strategic alliance that made Colombia one of Washington’s closest partners in Latin America.
Early last month, the two countriesagreed to deepen cooperationon critical minerals, including rare earths, tungsten and antimony.
The move aligns withDe la Espriella’s pledge to reviveColombia’s economically vital oil industry.
military arsenalsand conflicts raging on multiple fronts, particularly in the Middle East, Washington is scrambling to secure supplies of the critical minerals needed to manufacture weapons and replenish dwindling munitions stockpiles.
The agreement aims to unlock Colombia’s considerablecritical-mineral potentialby accelerating mining projects, improving cooperation on identifying viable deposits and mobilizing the investment needed to bring them into production.
The framework targets bottlenecks across the critical minerals supply chain, from improved geological mapping and access to advanced mining technology to streamlined permitting for new projects.
The deal also promotes the recycling of critical minerals, an increasingly important source.
antimony supplycomes from recycled lead-acid batteries, with 91% being imported.
The deal further addresses pricing and measures to build resilient supply chains while countering anti-market practices.
The2025 List of Critical Minerals, compiled by the U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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