New Colombia Resources, Inc. (NEWC) Purchases Greenfield in Colombia Where Their Metallurgical Coal Concession is Located
New Colombia Resources announces they have entered into an agreement to purchase a 50% interest in the San Jose and Santa Isabella farms in Guaduas, Colombia. The company will purchase the remaining interest once they determine it is necessary for their metallurgical coal project. The company will work with the seller to develop sustainable resources on the farms as they develop their underground coal operations. New Colombia's main purpose for purchasing these farms is to have full control of their coal operation without the need to pay royalties to farm owners. The farmland in the area has been increasing in value…