A "mining code" was adopted in 2001 with the aim of fomenting investment in the industry, and in 2004 the government of right-wing President Álvaro Uribe closed down the Empresa Nacional Minera (Minercol), the state-run mining company that was also in charge of designing policies for the industry.
En 2001 se expidió el Código de Minas o Ley 685 para fomentar la actividad, y en 2004 el gobierno de Álvaro Uribe liquidó la estatal Empresa Nacional Minera (Minercol) encargada además de desarrollar las políticas del sector.