Welcome!

News Feed Item

New Colombia Resources Inc. Provides Details of Joint Venture to Develop a Fully Permitted Metallurgical Coal Mine with an Estimated 40 Million Tonnes of Reserves to Begin Production in Q1 2017

Mine will be a showcase for responsible Water and Wastewater Management

BARRANQUILLA, COLOMBIA -- (Marketwired) -- 11/30/16 -- 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, has entered into a joint venture agreement to operate metallurgical coal Concession Contract JC3-15231 located in the municipality of Zulia approximately 25 km from Cucuta, Colombia. The coal will be mined and delivered to the Company's secured stockpiling facility in Cucuta with a 50,000 tonne capacity with industrial scale. From there the coal will be delivered to export terminals either by truck or barge, or sold onsite. More than 15 coalmines in production are close by to accommodate any supply requirement.

The coal from this mine has an extremely high 15,000 Btu/lb. calorific power which makes it very appetizing for metal producers. The Company is in talks with potential buyers and will be announcing purchase orders when they're executed.

The concession contract has an approved Work Plan by the National Mining Agency (ANM) and an Environmental License from the local environmental agency. For a copy of the Work Plan, Environmental License, mining title, reserve report, SGS Coal Analysis, and pictures of the stock yard, click here https://drive.google.com/open?id=0BxSKP5j2FlsecVJUeGhJYTFwRGc

New Colombia Resources filed a Form 8K with the Securities and Exchange Commission (SEC) with a copy of the Joint Venture Agreement; click here to view http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11711096

The partners will be onsite next week setting up operations to begin coal mining in February 2017. After January 1, 2017, New Colombia Resources and MSG Mining Corp. (the "Companies") will register a Colombian subsidiary to operate the mine that is 51% owned by New Colombia Resources and 49% owned by MSG Mining. Profits and losses will be likewise distributed; owning 51% of the venture allows New Colombia to book all the revenues on their financial statements filed with the SEC. At a production rate of 10,000 tonnes/month, the Company expects revenue to exceed US$ 1 Million/month, with a production and transportation cost of about $ 55/tonne at the ports.

The Work Program identifies at least two coal formations, Cuervos and Carbonera, with over 8 coal seams with estimated reserves between 1 to 13 Million tonnes each. Based on the Work Program, the Companies initially expect to begin extracting coal from Seam 1 (Manto 1) of the Cuervos Formation with an estimated 2.4 Million tonnes of reserves that are believed to be easily accessible. In February 2017, the Companies anticipate initiating a coal operation to produce 10,000 tonnes per month that can be scaled up to 30,000 tonnes/month. During extraction of the Cuervo Formation, they will explore the Carbonera formation coal seams with estimated reserves between 12-13 Million tonnes each. Total Reserves are estimated at over 40 Million tonnes.

The San Gregorio Mine will be a showcase mining project in Water and Wastewater Management. New Colombia's joint venture partner MSG Mining Corp. is owned by Tito C. Castillo, title holder to the Concession Contract. Mr. Castillo, a Chemical Engineer/ MBA, has been in the Water Treatment Equipment Industry for over 25 years in the U.S. and elsewhere. He spent 6 years in the Middle East working with the latest technologies in the Reverse Osmosis Process and the past few years assisting the Government of Colombia with water issues. The Water and Wastewater Large Modular Plant System is the latest technology that will play a vital role in Colombia's mining sector since the country is desperately trying to conserve the Andes Mountain Range and their river system while mining their rich mineral reserves. This Mine project will give the industry a pilot system to show that mining does not mean the destruction of the Eco system.

In addition to mining, New Colombia Resources also has a medical marijuana joint venture manufacturing medical products since 2014. To view or purchase Sannabis products visit www.sannabis.co. Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.cannamedicinal

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
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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...