Financial Information
Economic and Financial
Management – ARM LATAM
In 2019, the total of allocated financial resources amounted to USD 1,054,267 (COP 3.455 billion), 71% of which were provided by development and cooperation projects contributing USD 747,519 (COP 2.450 billion). In addition, we received USD 260,453 (COP 854 million) from Fairmined license fees, which have been collected for six years now, revealing a 20% income increase compared to the previous year. This income directly contributed to supporting the certification scheme.
Products and services generated revenues of USD 11,696 (COP 38 million), in addition to nearly USD 16,201 (COP 53 million) received from industries and individuals. Resource management in banks through financial yields and exchange rate differences generated revenues of USD 18,399 (COP 60 million).
Sources of funding
Development and cooperation projects: 71%
Industries and individuals: 2%
Products and services: 1%
Fairmined development and administration fees: 25%
Financial income: 2%
Funds mobilized in COP/ in USD
| en COP | en USD | % | |
|---|---|---|---|
| Mining Services / Implementations | 2.024.518.892 | 617.770 | 59% |
| Mining Services / ImplementationsColombia | 1.456.189.038 | 444.348 | 42% |
| Mining Services / ImplementationsPerú | 337.530.735 | 102.996 | 10% |
| Mining Services / Implementations Burkina Faso | 51.992.140 | 15.865 | 2% |
| Mining Services / Implementations Honduras | 178.806.979 | 54.562 | 5% |
| Standards and Certifications | 152.551.081 | 46.550 | 4% |
| Staff | 142.540.102 | 43.495 | 4% |
| Infrastructure Investment | 10.010.979 | 3.055 | 0% |
| Supply Chains and Market Development | 285.308.469 | 87.060 | 8% |
| Staff | 238.032.965 | 72.634 | 7% |
| Activities and trips | 47.275.504 | 14.426 | 1% |
| Governance and Advocacy | 90.177.878 | 27.517 | 3% |
| Staff | 90.177.878 | 27.517 | 3% |
| Management and Administration | 489.738.373 | 149.441 | 14% |
| Fundraising and Partnerships | 167.107.347 | 50.992 | 5% |
| Communications | 177.331.926 | 54.112 | 5% |
| Staff | 137.768.024 | 42.039 | 4% |
| Advertising, awareness campaigns and others | 39.563.902 | 12.073 | 2% |
| Subtotal | 3.386.733.965 | 1.033.442 | 98% |
| Financial expenses | 64.483.084 | 19.677 | 2% |
| Total | 3.451.217.048 | 1.053.119 | 100% |
| en COP | en USD | % | |
|---|---|---|---|
| Mining Services / Implementations | 2.024.518.892 | 617.770 | 59% |
| Mining Services / ImplementationsColombia | 1.456.189.038 | 444.348 | 42% |
| Mining Services / ImplementationsPerú | 337.530.735 | 102.996 | 10% |
| Mining Services / Implementations Burkina Faso | 51.992.140 | 15.865 | 2% |
| Mining Services / Implementations Honduras | 178.806.979 | 54.562 | 5% |
| Standards and Certifications | 152.551.081 | 46.550 | 4% |
| Staff | 142.540.102 | 43.495 | 4% |
| Infrastructure Investment | 10.010.979 | 3.055 | 0% |
| Supply Chains and Market Development | 285.308.469 | 87.060 | 8% |
| Staff | 238.032.965 | 72.634 | 7% |
| Activities and trips | 47.275.504 | 14.426 | 1% |
| Governance and Advocacy | 90.177.878 | 27.517 | 3% |
| Staff | 90.177.878 | 27.517 | 3% |
| Management and Administration | 489.738.373 | 149.441 | 14% |
| Fundraising and Partnerships | 167.107.347 | 50.992 | 5% |
| Communications | 177.331.926 | 54.112 | 5% |
| Staff | 137.768.024 | 42.039 | 4% |
| Advertising, awareness campaigns and others | 39.563.902 | 12.073 | 2% |
| Subtotal | 3.386.733.965 | 1.033.442 | 98% |
| Financial expenses | 64.483.084 | 19.677 | 2% |
| Total | 3.451.217.048 | 1.053.119 | 100% |
Funds mobilized – ARM Europe 2019
For its first year of activity, ARM Europe received a total of USD 276,468 (EUR 252,160), 91% of which were provided by development and cooperation projects. The other 9% is related to reimbursements of business expenses (1% for transfer costs), Fairmined license fees (5%) and consultancy services (3%). The vast majority of cooperation resources were provided by the European Union project in Burkina Faso.
Sources of funding
Development and cooperation projects: 91%
Transfer costs : 1%
Consultancy services: 3%
Fairmined license fees: 5%
Funds invested in COP / in USD
| EUROS | USD | ||
|---|---|---|---|
| Mining Services/Implementation | €174.366 | $191.175 | 72% |
| Implementation in Burkina Faso | €164.999 | $180.905 | 68% |
| Implementation in Ghana | €9.367 | $10.270 | 4% |
| Management and Administration | €68.867 | $ 75.506 | 28% |
| Subtotal | €243.233 | $266.681 | |
| TOTAL | €243.233 | $266.681 | 100% |
| EUROS | USD | ||
|---|---|---|---|
| Mining Services/Implementation | €174.366 | $191.175 | 72% |
| Implementation in Burkina Faso | €164.999 | $180.905 | 68% |
| Implementation in Ghana | €9.367 | $10.270 | 4% |
| Management and Administration | €68.867 | $ 75.506 | 28% |
| Subtotal | €243.233 | $266.681 | |
| TOTAL | €243.233 | $266.681 | 100% |