ACM COLOMBIAN MINING SECTOR DEVELOPMENT 2018 2022 7 This classication is based on two elements the geological potential and the political perspective According to this internat ional Institute Colombia has the second best geology of the continent and the worst political perception only surpassed by Venezuela Ecuador Guatemala and Bolivia This perception includes 1 security 2 uncertainty regarding protected areas 3 uncertainty regar ding the application of regulations 4 uncertainty regarding environmental regulations and 5 community development condition s and all of them in connection with legal certainty MINING INVESTMENT ATTRACTION INDEX 2016 DEVELOPMENT IN LATIN AMERICA RANKING DURING THE LAST 5 YEARS 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 P E R U C H I L E G U Y A N A M E X I C O B R A Z I L C O L O M B I A E C U A D O R FRENCH G U Y A NA B O L I V I A G U A T E M A L A P A N A M A DOMINICAN REPUBLIC H O N D U R A S V E N E Z U E L A Source Fraser Institute 39 28 11 39 52 45 25 50 77 51 36 61 32 65 87 76 92 83 90 88 95 89 74 90 64 92 96 102 MINING ATTRACTION INDEX BY COMPONENTS FOR THE COUNTRIES OF THE REGION 2016 Peru 17 Colombia 36 Guyana 40 Mexico 43 Chile 49 Ecuador 53 Brazil 54 French Guyana 63 Bolivia 73 Guatemala 79 Venezuela 83 Nicaragua 84 Panama 87 Honduras 89 Uruguay 96 Dominican Republic 100 GEOLOGICAL POTENTIAL Source Fraser Institute Source Fraser Institute French Guyan Peru 34 Chile 35 Guyana 50 Mexico 53 54 Nicaragua 57 Brazil 64 Dominican Republic 68 Uruguay 77 Honduras 82 Panama 85 Colombia 86 Bolivia 97 Guatemala 89 Ecuador 95 Venezuela 104 POLITICAL PERCEPTION