Colombia's president signs a labor overhaul into law after 2 failed attempts
The enactment of the law marks a milestone for a president who has struggled to deliver on his promises to reduce inequality in one of the region's most unequal nations. But it's faced opposition from business leaders and Colombian government bonds have suffered as markets worry about the fiscal and economic effects.
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Yahoo
37 minutes ago
- Yahoo
Quimbaya Gold Announces Termination of LOI with Denarius Metals
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Vancouver, British Columbia--(Newsfile Corp. - August 1, 2025) - Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya" or the "Company") announces that Denarius Metals Corp. has elected to terminate the binding Letter of Intent (the "LOI") previously announced on May 7, 2025. The LOI contemplated the formation of a 50:50 joint venture to advance the formalization of artisanal mining at Quimbaya's Tahami Project in the Segovia District of Colombia. Quimbaya thanks Denarius for the time and consideration given to this opportunity. While the parties were unable to reach a definitive agreement, the Company appreciates the constructive dialogue and shared interest in advancing responsible development in one of Colombia's most prolific gold regions. Quimbaya retains 100% ownership of the Tahami Project, including the drill-ready Tahami South. The Company remains focused on executing its fully funded 2025-2026 exploration program, which includes a 4,000-meter drill campaign scheduled to commence at Tahami South soon. In parallel, Quimbaya will continue to pursue alternative structures to support the formalization of artisanal mining in the region, aligning with its long-standing commitment to responsible mining, inclusive economic participation, and strong community engagement. "This is a strategically important district, and we remain confident in both the geological potential of Tahami and the strength of our position," said Alexandre P. Boivin, Chief Executive Officer. "Our exploration plans are on track, and we continue to evaluate opportunities that can responsibly advance the project and generate long-term value for all stakeholders." About QuimbayaQuimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia. Contact Information Alexandre P. Boivin, President and CEO apboivin@ Sebastian Wahl, VP Corporate Development swahl@ Quimbaya Gold on X @quimbayagoldincFollow on LinkedIn @quimbayagoldFollow on Instagram @quimbayagoldincFollow on Facebook @quimbayagoldinc Cautionary Statements Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements herein include statements and information regarding the Offering's intended use of proceeds, any exercise of Warrants, the future plans for the Company, including any expectations of growth or market momentum, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company's properties and any results thereof, the strength of the Company's mineral property portfolio, the potential discover and potential size of the discovery of minerals on any property of the Company's, including Tahami South, the aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Company's exploration and other activities will proceed as expected. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company's mineral properties; an inability to finance the Company; obtaining required permitting on the Company's mineral properties in a timely manner; any adverse changes to the planned operations of the Company's mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company's projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company's ability to comply with environmental, health and safety laws. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
3 hours ago
- Wall Street Journal
The Railroading of Colombia's Álvaro Uribe
Alvaro Uribe's political enemies have never forgiven him for winning a war against leftwing narco-terrorism while President of Colombia from 2002-2010. This week they've taken another step in exacting revenge. On Monday a Colombian judge found Mr. Uribe guilty of procedural fraud and bribery. His lawyers say they'll appeal and it could go to the Supreme Court. If he loses, he faces a sentence of up to 12 years.
Yahoo
3 hours ago
- Yahoo
Colombian ex-president Uribe sentenced to 12 years house arrest
A Colombian judge on Friday sentenced still-powerful former president Alvaro Uribe to 12 years of house arrest, capping a long and contentious career that defined Colombian politics for a generation. Uribe, 73, received the maximum possible sentence after being found guilty of witness tampering. The sentence marks the first time in Colombia's history that a former president has been convicted of a crime and sentenced. Uribe led Colombia from 2002 to 2010 and led a relentless military campaign against drug cartels and the FARC guerrilla army. He remains popular in Colombia, despite being accused by critics of working with armed right-wing paramilitaries to destroy leftist rebel groups. And he still wields considerable power over conservative politics in Colombia, playing kingmaker in the selection of new party leaders. He was found guilty of asking right-wing paramilitaries to lie about their alleged links to him. A judge on Monday found him guilty on two charges: interfering with witnesses and "procedural fraud." Uribe insists he is innocent and told the court that he will appeal the ruling. "You have treated me in the worst possible way" he told judge Sandra Heredia at the sentencing hearing. A law-and-order hardliner, Uribe was a close ally of the United States and retains ties to the American right. US Secretary of State Marco Rubio earlier decried Uribe's prosecution, claiming, without providing evidence, that it represented "the weaponization of Colombia's judicial branch by radical judges." Recent opinion polls revealed him to be the South American country's best loved politician. - Political vengeance? - The investigation against Uribe began in 2018 and has had numerous twists and turns, with several attorneys general seeking to close the case. It gained new impetus under Attorney General Luz Camargo, picked by current President Gustavo Petro -- himself a former guerrilla and a political arch-foe of Uribe. More than 90 witnesses testified in the trial, which opened in May 2024. During the trial, prosecutors produced evidence of at least one ex-paramilitary fighter who said he was contacted by Uribe to change his story. In 2019, thousands protested in Medellin and capital Bogota when he was first indicted in the case. On Monday, a smaller group of followers gathered outside the court wearing masks fashioned after his image and chanting: "Uribe, innocent!" The former president is also under investigation in other matters. He has testified before prosecutors in a preliminary probe into a 1997 paramilitary massacre of farmers when he was governor of the western Antioquia department. A complaint has also been filed against him in Argentina, where universal jurisdiction allows for the prosecution of crimes committed anywhere in the world. That complaint stems from Uribe's alleged involvement in the more than 6,000 executions and forced disappearances of civilians by the Colombian military when he was president. Uribe insists his witness tampering trial is a product of "political vengeance." das-arb/sla
