Posted in | Coal | Mining Business

Mining Engineers Discover New Outcropped Coal Seam at New Colombia Resources' Property in Colombia

New Colombia Resources, Inc. (OTC: NEWC) ("New Colombia or the 'Company"), a Colombian company listed in the U.S. with premium metallurgical coal properties and medical marijuana operations, is pleased to announce that last week, mining engineers discovered a new outcropped coal seam over 3 meters wide. Engineers from another company were visiting the property to propose a contract to develop some of the assets.  To view a picture of the coal seam visit https://drive.google.com/open?id=0BxSKP5j2FlsedUpXZVJnZ3JxVXc

The Company has an approved Work Plan for coal mining, however, they're awaiting approval of a rock mining permit to begin operation on both rocks and coal.  Metallurgical coal is the hottest commodity this year with surging prices over 400% since January. http://www.wsj.com/articles/coal-prices-on-fire-1478840770

To view an official letter from the National Mining Agency (ANM) with a complete history of the Company's mining title visit https://drive.google.com/open?id=0BxSKP5j2FlseY3VGcl9WUUpBa0k

The recent rally in metallurgical coal coupled with the election of Donald Trump for President has spurred significant interest in the metallurgical coal industry.  Colombian coal accounts for close to 75% of coal imports to the U.S. and the company has been approached about possibly blending their coal to upgrade U.S. coal of lesser quality.

New Colombia Resources' Blue Gem coal is only found on the KY-TN border and central Colombia and is used to produce specialty metals such as Silicone to make solar panels, electric car batteries, and many more next generation products.  New Colombia Resources has concession contracts and applications totaling 5000 HA of high quality metallurgical coal that will always be needed to produce steel and other specialty metallurgy products.

According to a mining assessment posted on the company's website, New Colombia Resources has an estimated 17 Million tonnes of coal on the first mining title they are developing.  It is estimated to be 70% metallurgical and 30% thermal, the value of the metallurgical coking coal at today's market prices would be $ 3.6 Billion.  Company subsidiary, Compañía Minera San Jose Ltda. has entered into a $ 200 Million LOI with a foreign company to develop their coal mines to build and supply a power plant at the company's property.  This would provide a local market for their thermal as the metallurgical coal is exported to the World markets.

Colombia's new rail projects significantly decrease transportation costs to export terminals. New Colombia's logistic coordinator, Miguel Centanaro, is rehabilitating railroads to haul premium coking coal direct from the mine to ports on the Caribbean coast. Mr. Centanaro was featured in an article in the Business Year, https://www.thebusinessyear.com/colombia-2016/long-wide-rails/interview

Government officials are anxious to help New Colombia Resources develop this project.  A meeting with the Minister of Energy and the foreign entity building the power plant is expected to take place this month.  Colombia's dependence on hydro-electricity is of great concern to officials due to changing weather patterns.  The ANM is encouraging New Colombia Resources to develop their operations as quickly as possible to advance the mining sector in Colombia and provide energy.  The Agency is focused on encouraging direct foreign investment to Colombia's mining sector, they are referring international coal buyers to New Colombia Resources.

Shares in OTC listed coal producers Walter Energy Inc. and Peabody Energy Inc. have soared since the U.S. presidential elections. Shares in big board coal producers, like BHP Billiton, Consol Energy Inc., and Cloud Peak Energy Inc. have also seen price increases, though not as significant as the OTC.

New Colombia Resources Inc. is a two-pronged company with not only premium coking coal but medical marijuana operations, two of the hottest sectors in today's market.  The Company has a joint venture in Colombia, Sannabis, producing medical marijuana products since 2014.  New Colombia has hired a production company in Miami and teamed up with a retired World Series MVP to begin marketing some of these products in the U.S. where legal.  For a concise independent analysis of New Colombia Resources Inc. visit https://www.insiderfinancial.com/new-colombia-resources-inc-otcmktsnewc-continues-to-run-up-on-two-pronged-strategy/118133/

To view or purchase Sannabis products visit http://www.sannabis.co . Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.cannamedicinal

Source: http://www.newcolombiaresources.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit