The Company is Featured in the Current Issue of a Leading Print Financial Publication
BOGOTÁ, Colombia / ACCESSWIRE / August 19, 2014 / New Colombia Resources, Inc. (NEWC) (“New Colombia or the Company”), a U.S. company with coal and other resource assets in Colombia, is pleased to update shareholders on the progress of their mining operations. As previously announced, New Colombia will develop a 1000 m3 per day rock quarry on their property while they bring coal operations online. The company originally expected to start quarry operations earlier this year, due to issues with a land purchase agreement, and a pending site visit, the initiation has been delayed for a few weeks.
The company received notice from the local environmental authority of a site visit for September 13, 2014. New Colombia Resources believes it is in their best interest to begin gravel operations after this inspection. They expect this visit to be the final step in the approval of their coal mining permit. The company’s Work Plan (PTO) was approved on December 23, 2013. Their environmental impact plan has been under review for several months; the company believes their coal mining permit will be issued soon after the visit.
New Colombia’s subsidiary, Compañía Minera San Jose Ltda., has fully paid and executed a land purchase agreement that transferred title on August 15, 2014. The company’s President made a capital injection of $ 50,000 into New Colombia Resources on July 25, 2014 to facilitate this transaction. Mr. Campo will enter into a royalty agreement with the Company which will be disclosed once finalized.
In addition to the purchased greenfield, New Colombia is leasing property along national highway I-50 leading to Bogota to use as a rock depot. The processed aggregates will be trucked down from their mine using existing haul roads to the highway. From there the material will be trucked in bigger dumpers to end users. The municipality of Guaduas is finishing construction of a haul road that leads down to Colombia’s largest new highway, Ruta del Sol, from their mine in 6 Km. In addition to Highway I-50, New Colombia will lease or purchase a rock yard along the new Road to the Sun.
New Colombia Resources purchased a rock crushing plant capable of producing over 100 m3 per hour. Although they received a letter of intent to purchase over 600 m3 per day in Bogota, they will pursue the closest buyer to optimize profit margins by reducing transportation costs. The company will be finalizing purchase agreements for their building materials as they get closer to production. They are materializing an operator’s agreement with a third party operator of excavation equipment and dump trucks.
New Colombia Resources is featured in a print article in the current edition of Dinero Magazine, Colombia’s leading financial news publication. The article focused on New Colombia’s initiative to develop the first legal cannabis based pharmaceutical product in Colombia while initiating their coal operations. To view the article visit http://www.dinero.com/edicion-impresa/negocios/articulo/medicamentos-legales-derivados-del-cannabis-marihuana/199474
New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have several revenue producing businesses including; metallurgical coal mining, African palm distribution, and traditional and organic coffees. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 MM tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. In April 2014, they announced their intentions to enter the legal medical cannabis industry in Colombia. Once the necessary financing is obtained, the Company plans to have additional revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. For more information on the Company visit www.newcolombiaresources.com.