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 due to the construction of the Ruta del Sol, which connects Bogotá to Barranquilla.
The company is also very pleased with the adjudication by the Agencia Nacional de Infraestructura (ANI) to a Spanish Colombian consortium for the repair of railroads from Bogotá to Belencito and La Dorada to Chiringuana that connects to an existing rail to the Atlantic Ocean. The consortium is composed of Dracol Líneas Férreas and Unión Temporal Ferroviaria Central. “We made the commitment to revive the trains, and we’re complying. We are certain the trains will be circulating these routes by the end of next year,” affirmed Luis Alfonso Andrade, the president of ANI.
New Colombia’s wholly owned La Tabaquera metallurgical coal mine is 25km from La Dorada which is 400 miles to the Atlantic export terminals. “This railroad significantly increases the value of our company since we can truck our coal to La Dorada and deliver it by rail to the Atlantic ports,” stated John Campo, President of New Colombia Resources, Inc.
For more information visit www.newcolombiaresources.com
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