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UPDATE 1-Glencore to return Prodeco's coal mining contracts to Colombia


By Reuters Staff
(Adds comment from National Mining Agency)
Feb 4 (Reuters) - Prodeco, a wholly-owned subsidiary of Glencore, will hand back its Colombian mining contracts after a review found restarting the unit’s operations would not be economical, the London-listed miner said on Thursday.
Prodeco’s operations at the Calenturitas and La Jagua mines have been on care and maintenance since last March.
The unit had sought permission to keep its mines on care and maintenance, but the request was denied by Colombia’s National Mining Agency (ANM) in December, Prodeco said in a separate statement.
Following a review of cost efficiencies, the decision was taken to return the mine contracts, Glencore said. ....

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