New Colombia Resources announces they will import 2000 hybrid African oil palm supergene seeds from Malaysia and plant them at a palm plantation in Bolivar, Colombia from October 5-24. New Colombia’s corporate objective is to exploit fossil and renewable resources in Colombia such as metallurgical coal, palm oil, and organic coffee. Colombia is the 4th largest exporter of coal in the world, the 5th largest producer of palm oil, and the 4th largest producer of coffee.
The Company has visiting Chinese Malaysian shareholders that have developed a patented hybrid African oil palm supergene seed that when planted with their patented fertilizer produces 59% oil content as compared to the 21- 25% oil content currently produced in Colombia. African palm plantations in Colombia are being partially funded by the United States Agency for International Development (USAID) along with the government of Colombia.
New Colombia Resources also announces they have received a second bid for drilling at their greenfield metallurgical coal project and anticipates signing a contract by the end of the week. They are confident favorable financing is in place to begin drilling on October 7. Company President John Campo will oversee both the drilling and nursery set up during the month of October.
New Colombia will set up a nursery to plant the hybrid supergene seeds on 11 hectares while they build a larger nursery to sell millions of seedlings to palm plantations in Colombia. The current market price for an African palm seedling in Colombia is US$ 8.00; New Colombia believes they can sell these new supergene hybrids for over $ 11.00/seedling generating over $ 10,000,000 per year in revenue. More information on the supergene seeds will be posted on the company website http://www.newcolombiaresources.com/.
Presently there are approximately 600,000 hectares of African palm planted; the government has a goal of 7 Million ha of exportable cash crops by 2020, including African oil palm. Seedlings now available in Colombia take 5 years to harvest significant fruit; these Malaysian hybrid supergene seedlings can be in production in 2 years.
African oil palm serves as a sustainable crop for the displaced farmers that are the center of negotiations between leftist rebel groups and the Colombian government. The government mandates a 10% blend of bio-diesel in its fuels; there are talks to increase this blend to 15-20% by 2020.
“We feel renewable energy in the form of Bio-diesel made from oil palm sets us apart from any other coal company. New Colombia Resources is fully committed to developing our metallurgical coal concessions within the next several weeks; we have made huge strides to bring our first concession to production. We are receiving inquiries from international coal buyers interested in an off-take agreement which sells our coal before it’s out of the ground and allows us to finance our production set up costs with no dilution to our shareholders. We plan to have our N.I. 43-101 completed by December with metallurgical coal production starting in the first half of 2014. At some point we may spin out these other resources to our shareholders in the form of a dividend,” stated John Campo, President of New Colombia Resources, Inc.
For more information visit www.newcolombiaresources.com
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