Due to insecurity and suspension of mining operations, emerald company Coscuez enters voluntary liquidation
The Coscuez mine is located within the urban area of the municipality of San Pablo de Borbur, in Boyacá. Photo: Google Maps
TL;DR
- Coscuez, a key emerald operator in Boyacá, has initiated voluntary liquidation.
- The decision is due to inability to guarantee worker safety and financial sustainability.
- The company invested over $480,000 million between 2017-2025 in modernization and social projects.
- Coscuez reported $45,000 million in taxes and royalties during the same period.
- Factors leading to liquidation include prolonged activity suspension, increased security risks, and vandalism of the La Paz mine.
- The company stated continuing operations is neither financially sustainable nor responsible.
- Previous dialogue with authorities and searches for investors did not yield results.
- The liquidation occurs amid a complex context for legal emerald mining in Boyacá, marked by disputes and informal mining.