VSUS Technologies Inc. Receives Confirmation from a Highly Qualified Engineering Firm of their Ability to Obtain Mining Permits for their Metallurgical Coal Mine in Colombia.
BOGOTA, Colombia, Feb. 16, 2012 /PRNewswire/ -- VSUS Technologies Inc. (OTCQB: VSUT) announces they received an opinion letter from their engineering firm, Incoplan S. A. confirming their ability to get a mining permit for their wholly owned metallurgical coal mine in Guaduas, Colombia. The company acquired La Tabaquera coal mine last year and contracted Incoplan S.A. to complete an Environmental Impact Assessment (EIA) and a geological engineering model. These studies are requirements to obtain a mining permit in Colombia.
According to a recent engineering report, there are close to 17,000,000 metric ton of coal reserves in the company's first acquisition, La Tabaquera. The company recently signed a letter of intent with an existing majority shareholder to acquire the neighboring La Herradura coal mine with an expected 70- 100 MM metric ton of coal reserves given that the new acquisition is almost 7 times larger than the adjacent La Tabaquera whose coal veins extend into La Herradura. Coal reserves at La Tabaquera are estimated to be 70% metallurgical and 30% thermal coal. The company plans to begin deep geological drill tests to produce a N.I. 43-101 technical report for both properties and expects La Tabaquera to obtain its mining permits in 2012.
Once the mining permits are approved, the company plans production of 30,000 mt per month, scaling up to over 100,000 mt. per month.
Incoplan S.A. has studied the formation, ecological location, and sociological component of the La Tabaquera and La Herradura coal mines. The mines do not have grounds for the denial of a license, such as being on indigenous or Afro-Colombian territory, or an archaeological natural park or forest that affects a protected basin.
Fabio Villamil, president of Incoplan S.A. stated, "We believe with 100% certainty on our part that once the geological engineering model and environmental impact studies are submitted before the environmental and mining authorities, the licenses required to start the operation and exploitation of the mine will be issued."
About INCOPLAN S.A.
INCOPLAN SA is an engineering and consulting firm based in Bogota, Colombia. They offer solutions for development projects, especially in the areas of natural resources. They are also involved in major infrastructure projects in Colombia, such as the El Dorado International Airport (BOG) renovations, sea and river port construction, railroad renovations, and the "Ruta del Sol" project in Colombia, (Road to the Sun) that connects Bogota to the Caribbean Coast, considered the biggest project in Latin America since the Panama Canal. For more information visit www.incoplansa.com
Transportation, Logistics and Other Information
VSUS Technologies plans to build or acquire wholly owned river loading facilities on the Magdalena River close to our mines. The coal will be trucked to these river ports, and then barged via the Magdalena River to terminals in Barranquilla, Santa Marta, or Cartagena for export. Initially we will use existing service providers while our transportation projects are being developed. The Colombian and Chinese Governments are jointly improving railroads that will facilitate local coal producers' ability to export. After the rail projects and the "Road to the Sun" project are completed, VSUS Technologies will have one of the only coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.
About VSUS Technologies Inc.
VSUS Technologies is a growing company that is acquiring coal concessions in Colombia in order to satisfy the world market demand for coal. Once a concession is acquired, the company will begin all the necessary environmental and geological studies to get them into production as efficiently as possible. The Company plans to have three revenue producing business units in Colombia: coal mining, coking oven facilities, and docks and river transportation along the Magdalena River. The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia. For more information on our company visit our new website at www.vsustechnologies.com
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. VSUS Technologies, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
SOURCE VSUS Technologies Inc.