Drummond LTD Plans New Development for Pribbenow and El Descanso Mines; Includes Technology Investments, Equipment and Infrastructure
BIRMINGHAM, Ala., July 21 /PRNewswire/ -- Drummond LTD has plans for growth and development of its coal project in Colombia, South America. These plans include investment in new technology at the company's Pribbenow Mine, which currently produces over 20 million tonnes per year and expansion of its El Descanso Mine from the current capacity of 3 million tonnes per year to 25 million tonnes per year over the next three years. These projects will include new mining equipment as well as additional infrastructure at the mines and on the railroad. The Company will have to expand the port capacity to handle the increased production and the Company has also committed to the government to build a direct ship loader at the Port in Cienaga. The Company has hired Bank of America Merrill Lynch to represent them in the financial markets to evaluate the possibility of taking on a partner to invest in some of these growth and development opportunities.
SOURCE Drummond LTD
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