La Loma, January 20, 2025
For the ninth consecutive year, Drummond Ltd. led the production and export of Colombian coal. In 2024, the company produced 27.6 million tons and exported 30.2 million tons, representing an 11.6% growth in exports. As evidence of the diversification of the export markets for coal produced by Drummond in the department of Cesar, in 2024, its coal was sold in more than 20 countries around the world from its port in the municipality of Ciénaga (Magdalena). These markets include South Korea (19.8%), Mexico (11.9%), the Netherlands (11%), Chile (7.5%), Turkey (7.4%), Taiwan (6.1%), Poland (5.9%), Brazil (5.2%), Puerto Rico (4.2%), and Japan (3.7%), among others.
These results are supported by claims such as those from the international organization Futurecoal, which embraced “the conclusions of the 2024 Coal Outlook from the International Energy Agency (IEA), which confirm the enduring role of coal in the global energy landscape. Global coal demand reached historic levels in 2024, underscoring its essential role in energy security, economic growth, and industrial development.”
According to the IEA report, “global coal demand is expected to grow to a record high of 8.7 billion tons in 2024.” Likewise, it says, “electricity generation from coal will reach a historic high of 10,700 terawatt-hours (TWh) in 2024.”
According to José Miguel Linares, president of Drummond Ltd., this year’s results mean that, “for Colombia and the region where we operate, in 2024 our operations contributed around 3.7 trillion pesos in royalties, participation in high prices, taxes, rates, and contributions.” Additionally, it is important to mention that “the company generated 11,600 direct jobs, which in turn translate into about 50,000 indirect jobs, all of which energize the local, regional, and national economy,” said Linares.
The Senior Vice President and Chief Sustainability Officer of Drummond Company, Carolina Riaño, recalls that between 1995 and 2024 the company has invested more than 652 billion pesos in high-impact social programs. “Our social investment strategy focuses on continuing to contribute to a progressive closure plan aimed at the year 2050, taking into account the initiatives identified in the analyses of global and national transition plans, such as education and training, productive development and economic diversification, institutional and community strengthening, and peaceful coexistence and the reconstruction of the social fabric.”
The resources generated by mining activity are essential for the sustainable development of the region and, in turn, are the key to advancing its strategy to achieve carbon neutrality by 2050, in which other subsidiaries such as Drummond Energy in Colombia and the parent company in the United States also participate.
In that sense, the Country Manager of Drummond Energy, Alberto García, highlights that, “in the second half of 2024, the first phase of the Cañahuate solar photovoltaic park, which occupies 117 hectares and has 112,781 panels, came into operation. With an investment of 52 million dollars, it has a generation capacity of 54 MW in alternating current and a peak capacity of 65 MW. This amount of electricity is equivalent to the consumption of 54,000 average households per day in Colombia, and supplies one third of the electricity needed for Drummond’s operations. This photovoltaic park also allows for a reduction of up to 40,000 tons of CO2 emissions per year.”