New Colombia Resources, Inc. (OTC: NEWC) announces approval of much anticipated work permit from National Mining Agency to begin pperating their Huge Gravel and Metallurgical Coal Reserves as coal prices continue to soar. Company's $90 Million Purchase Order for coal making headlines in Colombia. New Colombia Resources, a Colombian company listed in the U.S. with premium metallurgical coal properties and medical marijuana operations, is pleased to announce that on Friday, February 3, 2017, they received notice from the Agencia Nacional de Mineria (ANM) of the APPROVAL of the addition of Gravel to their existing approved Work Plan (PTO) for metallurgical coal. Use the link below to see the notice on ANM's website (see page 30, Contrato de Concession ILE-09551), https://www.anm.gov.co/sites/default/files/atencion_minero/estado_015_del_03_de_febrero_de_2017_bogota.pdf
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Yesterday, the Company filed a Form 8K with the Securities and Exchange Commission exhibiting the ANM's Resolution AUTO GET No. 000001. Now that the PTO has been approved, the company will begin negotiations with the road contractors in the area. Last year, the National Infrastructure Agency (ANI) announced the approval of the 23 Km that is needed to complete the 1000 Km Ruta del Sol road project, the largest in South America. New Colombia will supply building material to build the Ruta del Sol, then use this new road to move their premium hard coking coal to export terminals on the Caribbean coast. Click to read a related article http://www.eltiempo.com/economia/sectores/ruta-del-sol-tras-seis-anos-destraban-tramo/16466312 . The mega project is complete except for this stretch which will start with tunnels and bridges that are between 200 meters to 3 Km from New Colombia's mining concession in Guaduas.
"I would like to personally thank the ANM and the Office of the Presidency of Colombia for their assistance in this approval, we will not disappoint," stated John Campo, President of New Colombia Resources, Inc.
Approval of the Work Permit is a major milestone since now they can proceed with mining activities once the local environmental authority (CAR) recognizes the addition of Gravel and issues an environmental permit for both Gravel and Coal. An application for the environmental permit has been active for the past few years but was suspended in anticipation of the addition of Gravel so the Company will be issued one license for both. The Company will personally present the approval resolution to the CAR and expects issuance very quickly since the CAR has already performed a site visit and spent many hours on their case.
New Colombia has begun preparations to set up their wholly owned rock crushing plant on site to begin Gravel operations with a projected 1000 m3/day output. They may add another plant to satisfy local demand for building material.
In other Energy & Coal mining stock performances and developments:
CONSOL Energy Inc. (NYSE CNX) recently reported net cash provided by operating activities in the just-ended quarter of $83 million, compared to $102 million in the year-earlier quarter, which includes $4 million and $5 million of net cash used in discontinued operating activities, respectively. For the year ended December 31, 2016, CONSOL Energy reported net cash provided by operating activities of $469 million, compared to $506 million for year ended December 31, 2015, which includes $10 million and $6 million of net cash provided by discontinued operating activities, respectively. CONSOL Energy operates as an integrated energy company in the United States and internationally. The company operates through two divisions, Exploration and Production (E&P), and Coal.
Cloud Peak Energy Inc. (NYSE: CLD), one of the largest U.S. coal producers and the only pure-play Powder River Basin ("PRB") coal company, plans to announce its fourth quarter and full year 2016 financial results on February 15, 2017, after the markets close. A conference call with management is scheduled at 5:00 p.m. ET on February 15, 2017 to review the results and current business conditions. The call will be webcast live over the Internet from http://www.cloudpeakenergy.com under 'Investor Relations.' Participants should follow the instructions provided on the website for downloading and installing the audio applications necessary to join the webcast. Interested individuals also can access the live conference call via telephone at (855)-793-3260 (domestic) or (631)-485-4929 (international) and entering pass code 44803778.
Peabody Energy Corporation (OTC: BTUUQ) recently announced that the company has reached agreement by which the Unsecured Creditors' Committee (UCC) will support the company's proposed plan of reorganization. Today's agreement builds on momentum regarding the company's proposed plan, which has received substantial support in recent weeks by holders of first lien debt, second lien notes and senior unsecured notes. "We are pleased to have reached agreement with the UCC and are encouraged by the support we have received," said Peabody Energy President and Chief Executive Officer Glenn Kellow. "We look forward to continuing to advance a plan that we believe maximizes the value of the enterprise."
Cliffs Natural Resources Inc. (NYSE: CLF) clsoed up on Monday at $9.10 trading over 15.6 Million shares by the market close. Cliffs Natural Resources is a leading mining and natural resources company in the United States. The Company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.
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