ACM COLOMBIAN MINING SECTOR DEVELOPMENT 2018 2022 3 632924 ROYALTIES 1090694 RENT CONTRIBUTION IN TAXES M ILLION OTHER TAXES 1149079 In total the impact of developing these mining projects would contribute to 3 additional percentage points to the national GDP and close to 3 trillion pesos more in taxes The above without mentioning the increase in the regional GDP as a result of the mining bet For example Fedesa rrollos gures regarding the department of Tolima show that under the mining scenario the departmental GDP shall reach a growth rate of 72 in year 2025 exceeding in 26 percentage points the medium expected growth for the region For this purpose it is necessary to replicate better interna tional practices in mining competitiveness matters such as those recently adopted in competitor countries like Peru Chile and Ecuador which included a tax regime in benet of investment legally stable agreements review of the mining and environmental regulations and the develop ment of a Center of Mining Excellence to use our mining as a development growth and wealth engine These practices shall additionally guarantee the production in all our territory to achieve a true knowledge of our subsoil to make the best decisions regarding public policies with rst hand data Nevertheless in order to generate this mining develop ment competitiveness is to be improved and guarantee clear and stable regulations that allow the investors recover the legal certainty with decided support to impro ve reputation Source National Mining Agency Colombian Geological Service Mining reserve areas Current mining titles Geological potential in Colombia COLOMBIAN GEOLOGICAL POTENTIAL In this regard we present the following proposals on public policies to reach such objectives which will be broadened throughout this document 1 Adoption of best practices to attract investments 2 Legal certainty guarantees 3 Amendment to the royalties general system 4 Improvement of the procedure and coordination among authorities involved in the mining licensing process 5 Strengthening of the PINES policies and exploration promotion 6 Strengthening of the Mining National Agency and of the formalization and scalization process