“Colombia is a New Colombia with vast untapped human and natural resources,” said New Colombia Resources President John Campo. “We felt a name change was necessary to reflect the direction of the company.”
New Colombia also announced that it has engaged an investment banking firm to raising capital for production at its La Tabaquera metallurgical coal mine.
New Colombia Resources recently registered its Works Program with Colombia’s National Mining Agency. Company officials, meanwhile, anticipate mining permit approval in coming weeks as they also submit an environmental management plan; New Colombia also seeks to acquire a Colombian subsidiary by January’s end.
New Colombia Resources Inc. mines high-quality metallurgical coal in South America’s fourth-largest nation. It owns the La Tabaquera mine with 15 million to 17 million metric tons of coal reserves (70% met, 30% thermal). New Colombia is now building its production infrastructure to allow export capacity.
