A uniform contractual system for the exploitation of mines is introduced in Colombia by means of the New Code of Mines (Law 685 of August 15, 2001).
Under Colombian law subsoil and non-renewable natural resources are owned by the State, with the exception of private property titles formalized before 1969. As a result of the above, the State grants mining titles comprising the right of exploration and/or exploitation of a mine to private parties and government entities.
Under the former Code of Mines (Decree 2655 of 1988) there were several types of mining titles, all granted by the Ministry of Mines and Energy (except for private property titles formalized before 1969).
These types included exploration licenses, exploitation licenses, concession contracts for the exploration and exploitation of a mine and mining contributions. The latter were given to government entities which in turn could contract with private parties the exploration and exploitation of the mines located within
