Updates Mining Operations
New Colombia Resources Inc. Updates Mining Operations.
World leading laboratory is analyzing Rock Phosphate samples
GUADUAS, Colombia, Dec. 18, 2014 /PRNewswire via COMTEX/ -- New Colombia Resources, Inc. (OTCQB: 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. New Colombia has completed construction of two 27-foot trailers making their quarry equipment mobile. The equipment is scheduled to be mounted on the trailers in the next two week and installed at the company's mine site. The company's environmental license is in the evaluation phase and expected to be approved next month. In the next few weeks New Colombia is setting up its 1000 cubic meter per day rock quarry on their property.
New Colombia is extremely pleased the Colombian economy grew 4.3% in the Q3, the highest in Latin America. This growth was attributed to a 14.1% increase in construction and 11.1% increase in public works. The strong growth in the construction market increases the need for raw building materials from New Colombia's quarry. Additionally, the final leg of the Ruta del Sol highway has begun between Bogota' and Guaduas. New Colombia's quarry and mining properties are 3 km from the Ruta del Sol and 11 km from National Highway I-50, which is also slated for rehabilitation. Upon approval of their environmental license the Company will sign supply contracts with local road and building contractors.
In addition to the gravel operation, the Company's rock phosphate samples are being evaluated by SGS, a world leading inspection, verification, testing, and certification company. Once the results are returned NEWC plans to enter into a sales contract with interested buyers.
John Campo, President, stated, "Our management is working closely with the agency handling the licensing and permit approval process for our build out and mining operations. With current growth rates, Colombia is going through growing pains that have caused delays at government agencies. Recent meetings at the environmental agency have resulted in gaining priority status for our license as we have a town full of people waiting to work and many more construction contractors in need of a continuing supply of road building supplies. We are building a business for the lifetime that we will be able to capitalize on our assets. We do not believe that a few extra months to solidifying NEWC's reputation as a good corporate and humanitarian citizen in this rural part of the Colombia will effect the achievement of our goal of building shareholder values."
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 and rock quarry aggregates for domestic Colombian highway and railroad building projects. The Company owns 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. For more information on the Company visit www.newcolombiaresources.com.
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements might not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
Company Contact:
New Colombia Resources, Inc.
John Campo
President/Chairman
(1)-410-236-8200 USA
jcampo@newcolombiaresources.com
New Colombia Resources, Inc., mining subsidiary
Cia. Minera San Jose Ltda.
Kra. 3 # 2-52
Guaduas, Cundinamarca
Colombia
(57) (1) 846-6579
www.newcolombiaresources.com
