SOURCE: MMEX Mining Company

February 06, 2012 08:00 ET

MMEX Mining Corporation Announces Agreement for Final Closing for Its Colombia Metallurgical Coal Project and Amended Permits to Produce up to 1.6 Million Tons of Met Coal

MMEX Signs Final Agreement for Its Colombia Met Coal Project and Announces Project Has Received Amended Permits for 1.6 Million Tons

DALLAS, TX--(Marketwire - Feb 6, 2012) - MMEX Mining Corporation (OTCBB: MMEX) announced today that it executed on February 2, the final document prior to funding its exclusive option agreement for its Colombia metallurgical coal mining business plan.

Jack Hanks, the Chairman and Chief Executive Officer of MMEX, announced that MMEX and its Colombia partners have entered into the final amended agreement to acquire its 50% interest in its first metallurgical mine project in Colombia.

In addition, Hanks confirmed, that amended permits for the concession to allow production up to 1.6 Million tons of coal have been issued by regulatory authorities.

Said Hanks, "We are anticipating closing on our exclusive option agreement by February 29, 2012. We have signed the amended agreement to close and are in the final steps of the financing. We are very pleased that the concessions have now been awarded all of the permits necessary to produce up to 1.6 Million tons of high quality metallurgical coal in Colombia."

About MMEX Mining Corporation

MMEX is an exploration stage company engaged in the acquisition and development of coal and other mining assets in South America. The Company searches for commercially viable coal and mineral deposits through acquisitions. MMEX Mining Corporation is publicly traded on the OTC market under the ticker symbol "MMEX" and is headquartered in Dallas, Texas USA. For more information please visit www.mmexmining.com

This document may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "project," "estimate" or similar expressions, it is making forward-looking statements. Forward-looking statements reflect current plans and expectations and are based on information currently available. They are not guarantees of future performance and involve risks and uncertainties, including those discussed in the Company's reports filed from time to time with the Securities and Exchange Commission. The Company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.

Contact Information

  • Investor, Media Contact

    Ms. Maribel Dejohn
    MMEX Mining Corporation
    T: +1.214.880.0400
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