“South America is an untapped resource,” NRI chairman Gary Rogliano said.

“The commercial environment is very pro-business and supportive of natural resources investments [and] Colombia’s geographic position creates excellent opportunities for seaborne trade to Europe, Asia and the Americas.”

The office will be managed by NRI South America chief executive officer Pablo Gonzalez and NRI South America executive vice-president Juan Valdivia, who will develop business opportunities in Colombia and across South America.

The company noted that the teaming of Gonzalez, a 20-year veteran of the international coal business, and Valdivia, who has extensive experience in logistics and international trading, with their local relationships and extensive mining knowledge would help NRI develop those ventures.

NRI’s specific strategy, which will focus on acquisitions and investments, includes the development and operation of mining properties, primarily in coal, iron ore and other bulk minerals; infrastructure assets, such as rail, port and transportation; and mining technology services businesses.

It has current investment opportunities in Africa and Australia, as well as South America, which offer export opportunities and international seaborne trade.

Barclays Natural Resource Investments is the primary investor in Richmond, Virginia-based NRI.