Despite announcements regarding its mining potential, Colombia currently possesses information on only 30% of its subsurface geological resources. This is occurring as officials consider decreasing the budget for the Servicio Geológico Colombiano (SGC), the entity responsible for studying these resources. The situation suggests Colombia is attempting to capitalize on critical minerals without a comprehensive understanding of its own reserves. Experts warn that this approach – essentially “saddling the horse before buying it” – could lead to unfavorable deals or unsustainable exploitation. The reduced funding for the SGC will further hamper exploration and accurate resource assessment. This raises concerns about the country’s strategy for benefiting from the global demand for these materials. The lack of data presents risks for Colombia as it seeks to participate in the critical minerals market.