Mining Fund: disseminate guidelines on how to spend it

The Ministry of Economy released the guidelines on Tuesday on how the resources of the Mining Fund will be spent.

Specifically, the resources of the Mining Fund must be allocated, applied and exercised in accordance with the provisions of articles 271 of the Law, and 25, section IX of the LIF 2019, for the execution of the Actions and Projects in terms of the applicable provisions. , including:

  1. Investment Projects in Physical Infrastructure with a positive social, environmental and urban development impact, including:

First option

The construction, remodeling and equipping of schools, as well as urban public spaces.

Second option

Paving and maintenance works of local streets and roads, as well as the installation and maintenance of public lighting, respectful with the environment, as well as public services based on energy efficiency and renewable energy.

Third option

Infrastructure works for environmental protection, such as sanitary landfills, water treatment plants, installation and maintenance of public drainage works, comprehensive management of urban solid waste, and improvement and monitoring of air, water and soil quality, as well as potable water supply.

Fourth option

Works that preserve natural areas, such as protection, restoration, reforestation and rescue or rehabilitation of aquatic or terrestrial ecosystems, and for the conservation and use of wildlife.

Fifth option

Works that positively affect urban mobility, suburban train systems, metrocable or equivalent, or any other public transport system that respects the environment and low carbon emissions.

Sixth option

Territorial and urban development works, including those that contribute to improving or creating the conditions of habitability of public spaces and roads, as well as the effective exercise of the right to the city and to improving the quality of life of the population, promoting the appropriation of space and citizen participation.

2. Infrastructure projects and educational equipment, health, social welfare, crime prevention, civil protection, rural mobility, reforestation and community centers to support the integration of communities, including indigenous communities;

3. Actions for the creation of capacities of the population in the Mining Production Zones, and

4. Training actions for employment and entrepreneurship.

Mining Fund

The determination of the Mining Municipalities that are part of the Mining Production Zones will be the responsibility of the Ministry of Economy, based on the criteria established in the Guidelines for the Mining Fund.

Likewise, the Ministry of Economy will disseminate through its website the information related to the conformation of the Mining Production Zones.

This information must indicate the Mining Municipalities included in each Mining Production Zone, as well as the maximum distribution factor referred to in the Mining Fund Guidelines.

Lastly, the Ministry of Economy will calculate the distribution factor of the Mining Fund that can be assigned as a maximum for each Mining Production Zone considering the value of the mining activity of the Mining Production Zone, with respect to the total value of mining activity in the national territory of the municipalities that make up the corresponding Mining Production Zone.