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Recently reelected Colombian President Juan Manuel Santos announced the replacement of several key cabinet ministers, including mines and energy ministry Minminas head Amylkar Acosta, the presidential website reported.

The challenges during Acosta's four years as minister were many. His efforts to pass a new mining code and begin regulating Colombia's prolific informal mining sector were met with legal delays, community opposition and complications stemming from the involvement of organized crime and left-wing guerrillas in the sector.

In terms of hydrocarbons, Acosta was confronted this year with frequent infrastructure attacks by guerrilla groups FARC and ELN. Frequent pipeline shutdowns resulting from these attacks caused Colombia to lower its 2014 production goal this year. In addition, the country suffered an arguably disappointing oil and gas licensing round this year, with bids and investment commitments falling below expectations.

Toms Gonzlez will replace Acosta. As the former deputy minister of mines and energy, Gonzlez is well acquainted with the situation he is inheriting. His first challenges will be passing new mining licensing rules and possibly attracting more hydrocarbons investment, through a second mini oil and gas round planned this month.

Issues stemming from guerrilla involvement in illegal mining and attacks on energy infrastructure are related more to politics and largely out of Gonzlez's control. It is worth noting that Santos retained defense minister Juan Carlos Pinzn, likely signaling a continuation of Colombia's current security strategy.

BNamericas will host its fourth LatAm Power Generation Summit in Santiago, Chile, on August 13-14. Click here to download the agenda. Live streaming of the event can be seen here.

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