TORONTO (miningweekly.com) – Investment in Colombia's mining sector is forecast at around $3-billion this year, and could be higher, Minster of Mining Hernan Martinez Torres said on Tuesday.

Speaking to reporters on the sidelines of the Prospectors and Developers, he did not have figures for 2009, but said that there will be a year-on-year increase.

Mining investment for the first quarter expected to be around $1-billion.

He was reluctant to comment on a legal dispute involving Canadian gold explorer Ventana Gold, but indicated he expects Ventana to successfully defend its case.

Ventana announced in November that the owner of the mineral rights to its La Bodega property, in Colombia, was challenging the terms of its agreement with Ventana.

Although the matter will be decided by the relevant courts, the Minister said he expected Ventana will be able to win the case.

“I don't think they are going to lose their rights,” he said.

“But it will take time like any other legal dispute.”