BARRANQUILLA, COLOMBIA--(Marketwired - Feb 7, 2017) - New Colombia Resources, Inc. (OTC PINK: 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 on Friday, February 3, 2017, they received notice from the Agencia Nacional de Mineria (ANM) of the APPROVAL of the addition of Gravel to their existing approved Work Plan (PTO) for metallurgical coal. Use the link below to see the notice on the ANM's website (see page 30, Contrato de Concession ILE-09551), https://www.anm.gov.co/sites/default/files/atencion_minero/estado_015_del_03_de_febrero_de_2017_bogota.pdf
Yesterday, the Company filed a Form 8K with the Securities and Exchange Commission exhibiting the ANM's Resolution AUTO GET No. 000001. Click here to view a copy, https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11826050
Now that the PTO has been approved, the company will begin negotiations with the road contractors in the area. Last year the National Infrastructure Agency (ANI) announced the approval of the 23 Km that is needed to complete the 1000 Km Ruta del Sol road project, the largest in South America.
Details of the Work Plan (PTO) include:
Area to Develop: 57.7 hectares
Probable Reserves: 1,999,791 cubic meters (cm3)
Minerals to Extract: Gravel
Exploitation Method: Open Sky
Use of Explosives: Yes, 30% of minerals will be extracted with explosives
Projected Annual Production: 250,000 cm3
Volume of Rock to be Removed: 2,646,094 cm3
Volume of Sterile Material to be Removed: 49,200 cm3
Project Life: 8 years
Machinery to be Used: CAT D-9 Bulldozers, 7 tonne Dump Trucks, Rock Crushing Plant
New Colombia will supply building material to complete the remaining section of the Ruta del Sol, then use this new road to move their premium hard coking coal to export terminals on the Caribbean and Pacific coasts. The road project is complete except for this stretch that begins with tunnels and bridges that are between 200 meters to 3 Km from New Colombia's mining concession in Guaduas.
"I would like to personally thank the ANM and the Office of the Presidency of Colombia for any assistance provided for this approval, we will not disappoint and are committed to being an environmentally responsible neighbor," stated John Campo, President of New Colombia Resources, Inc.
New Colombia recently entered into a $ 90 Million contract to supply coal to China Steel Mills, they have sourced the coal to fill the contract and will be making announcements accordingly. New Colombia's Mega Coal Projects have been getting media attention in Colombia. Click here to see an article in Colombia's leading El Tiempo Newspaper reporting on their $ 90 Million coal order, in Colombia they're known as NCR, http://www.eltiempo.com/economia/empresas/movidas-empresariales-en-2017/16790902
Approval of the Work Permit is a major milestone since now they can proceed with mining activities once the local environmental authority (CAR) recognizes the addition of Gravel and issues an environmental permit for both Gravel and Coal. An application for the environmental permit has been active for the past few years but was suspended in anticipation of the addition of Gravel so the Company will be issued one license for both. The Company will personally present the approval resolution to the CAR and expects issuance very quickly since the CAR has already performed a site visit and spent many hours on their case.
New Colombia has begun preparations to set up their wholly owned rock crushing plant on site to begin Gravel operations with a projected 1000 m3/day output. They may add another plant to satisfy local demand for building material. To see a financial model of their rock crushing operations visit, https://drive.google.com/open?id=0BxSKP5j2FlseOFE5TVdReGRCUUE
Use this link for a site visit report and Power Point Presentation of their rock crushing operation from an independent Colorado Geological firm, Exploration Services International, https://drive.google.com/open?id=0BxSKP5j2FlsebU9kT3Y4SHlOSm8
In November, 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
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.
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 www.sannabis.co. Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.oficial
New Colombia Resources, Inc.
New Colombia Resources, Inc. owns vast reserves of premium metallurgical coal mining titles and a medical marijuana joint venture in the Republic of Colombia. They are setting up a rock mining operation to supply the major road and infrastructure projects within miles of their properties. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have an additional 1196 ha. metallurgical coal mining title that they are negotiating to develop with a foreign entity to build a coal fired power plant. New Colombia Resources holds a significant position in Sannabis SAS which legally produces medical marijuana products in the Republic of Colombia, visit www.sannabis.co. For more information on the Company visit www.newcolombiaresources.com
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.