Research 25 Apr 2015 - 9:00 pm

The background of a millionaire business in Santander

The California gold in the hands of Arabs

Beyond suspicions about Tony Blair consultancies in Colombia, the fund Mubadala Arabic is the new owner of one of the largest deposits of gold in the world.

By: Norbey Quevedo Hernández

image:

Sheikh Abdullah Bin Zayed Al Nahyan, UAE Foreign Minister, at the most recent meeting with Foreign Minister Maria Angela Holguin./ Chancellery

No noise ceases consultancies that former British Prime Minister Tony Blair lent the government of Juan Manuel Santos in 2013 and 2014. It is now clear that this was an agreement between the consultant TBA and the National Planning Department to support international experts the implementation of the General System of Royalties.However, the claims of the British newspaper The Sunday Telegraph, in the sense that Blair could incur conflict of interest by some business of mining, continue to create suspicions.The question is focused on clarifying why were the UAE who paid the expensive fees expremier English.

In the letter to the ambassador of Colombia in the UK, Nestor Osorio, sent to the British printed, the diplomat said that the agreement was made in the framework of an international cooperation agreement from country to country, in this case between UAE and Colombia, which is usual in the world.He added that UAE has made clear its intention to evaluate investment opportunities in the country and it does not represent a conflict of interest.Osorio admitted that recently the group Mubadala, Abu Dhabi, acquired a company that its property is a gold mine, but insisted that this business has nothing to do with the Offices of Tony Blair in Colombia.

El Espectador wanted to delve into the origins of rising trade links with the United Arab Emirates and the recent acquisition of mining company Mubadala, and the first trace data of 2009. According to information from the Chamber of Commerce Arab-Colombian together with five more delegates, that year visited Bogotá Chancellor Asian country, Sheikh Abdullah Bin Zayed Al Nahyan and, among other senior officials, met with then President Uribe, his Minister of Commerce Luis Guillermo Plata and the president of the Andi, Luis Carlos Villegas.From that moment a relationship business promotion in the context of the call spurred investor confidence.

That approach was deepened in the Santos government and through economic commissions mutual visits of delegations and agreements in March 2012 led to the opening of the Embassy of Colombia in the UAE, with political and commercial district in Qatar, Bahrain, Yemen and Kuwait.With over US $ 10,000 million just in the fund Mubadala government owned assets was logical that intend to invest in Latin America would soon take root in Colombia.There are already some minor investments with economic groups, but its recent acquisition in the mining town of California (Santander) is its entry into the major leagues.

To understand that business is necessary to return the time until the mid-90s, when the Ministry of Mines granted several licenses to explore for gold in the California region in the foothills of the Cordillera Oriental.One of those concessions to 10 years received particular Hermes Jesus Alonso Arias and Amaya.Like them, other miners were beneficiaries of similar licenses.However, since 2009, several of these prospectors were giving their rights to society CVS Explorations Ltda., Who finished adding titles to consolidate a substantial tract of land for the exploitation of gold in a promising vein.

In November 2011, after a reform in society CVS Explorations Ltda. And to facilitate the entries in the National Mining Registry, the company changed its name AUX Colombia Limited.According to the certificate of existence and legal representation of the time, the firm had as main partner Carlos Alfredo Urrutia Valenzuela, who took nine months later as ambassador of Colombia in Washington.However, over time it became known that the site of California was in the hands of powerful economic group EBX, the Brazilian businessman Eike Batista, who at that time was regarded as the seventh richest man on the planet.

In the following months, under the protection of the law that granted privacy and agility to create societies, AUX Colombia also changed its name to AUX Colombia SAS and in May 2013, negotiated with the National Mining Agency a new concession contract.The agreement was agreed until June 2028 to make it effective in an area of ​​351 hectares divided into five zones.Although in recent time the mining activity was affected by the ELN guerrilla presence, and was not this factor that slowed mining production.The new dilemma environmental.The proximity of the moor Santurbán forced to wait for the demarcation of the land.

That same month of May, as recorded in the records of the National Mining Agency, the economic expectations of the Brazilian Eike Batista in Colombia grew by acquiring control of La Bodega gold mine in the same area of ​​California, then It was held by the Canadian firm Ventana Gold.Under the new name of Bodega Ventana Baja BVB SAS, with similar managers to AUX Colombia SAS, the expectation was focused on the possibility that in a decade this gold deposit, considered one of the largest in the world, achieve optimal profits .According to one of the project partners, an estimated minimum of US $ 10,000 million.

But came the untwisted.In 2013, with the bankruptcy of its oil OGX, considered the largest in Latin America, began the collapse of the economic empire of Eike Batista.After being the representative of the "Brazil of hope," the billionaire tycoon was forced to accelerate the sale of assets to cover its debts.Then the crash came to Colombia.Urgently needed economic strength to repay debts to banks Bradesco, Itau.Moreover, according to primerapagina.com website, Batista had no choice but to give active in the California gold mine and cover a debt of US $ 2,000 million with the Mubadala background.

In this business was that the ambassador of Colombia in the UK, Nestor Osorio, referred in his explanation to the newspaper The Sunday Telegraph.El Espectador contacted the current representative of AUX Colombia for details of the transaction and César Torresini Mubadala Development Company confirmed that the company received a debt restructuring, but that will remain gold mine operated by them.The manager noted that the background Arab Mubadala acquired legal personality, but not the assets individually considered, and for now there is no place to transfer, as was approved in negotiations with Mubadala.

In turn, the president of the National Mining Agency, Natalia Gutierrez said in effect AUX Colombia SAS has not submitted request for transfer of rights and, therefore, remains the responsibility of mining rights.In other words, they remain AUX.Apart from his statements, this newspaper learned that have already held meetings with Arab fund Mubadala in the Ministry of Mines and his interest has been presented as the new owners of the franchise in California, in the mountains of Santander.According to a source, the estimated they have for the next decade is to remove between 10 and 20 million ounces of gold.

For now this is the reality on the participation of Arab capital in the Colombian mining sector.The government insists that it has nothing to do with the projects handled by the system Royalties or with the advice you gave Tony Blair between 2014 and 2014, which ended up paying the UAE.It is also difficult to know something more, because according to the journalist Health Hernandez, one of the clauses of the contract with the former prime minister English watched the destruction of documents.Perhaps for that reason is not known.There are only reports the signing of Tony Blair delivered after 12 months of work with National Planning.

Meeting at the Ministry of Mines

In March gathered in the premises of the Ministry of Mines several Arab fund Mubadala representatives, officials of the National Mining Agency together with the Minister of Mines, Tomás González, and Vice Minister María Isabel Ulloa.One of those attending the ministerial appointment he told El Espectador that the purpose of the meeting was the presentation of the new owners of the company and the business of mine in California (Santander)."The meeting was attended by four Arabs, who explained in general terms the history and operation of the fund and requested information on the license.This newspaper wanted to know the opinion of the minister González, but did not respond to communications.

A conflict mine gold mining

Since May 2013, the National Mining Agency is clear that society AUX Colombia SAS is the only concession holder working in the town of California (Santander) for the exploration of gold and other metals.

However, there has not been a decision without dilemmas.Since the beginning of 2012 have been raised over 70 requests for administrative protection by disruption of legal activities and improper exploitation in areas where gold is found.

Of all applications, 26 have been granted by the National Agency of Mining.In these surveillance activities, together with the authorities, the company has been able to verify many actions of illegal mining and environmental destruction.

---------

machine translation from Colombian press:

[url=https://www.elespectador.com/noticias/investigacion/el-oro-de-california-manos-de-arabes-articulo-557063https://]https://www.elespectador.com/noticias/investigacion/el-oro-de-california-manos-de-arabes-articulo-557063[/url]


Yes, one of the largest global new Gold Deposits. But not AUX (Galway) alone, that is for sure. The real gorilla in that whole region is our good old ECO ORO ! Only a consolidated mining between the Arabs & Eco Oro (and may be some others) can claim for that title: to be one of the largest global new gold deposit.

Marks in the article added by me.