SAN FRANCISCO, April 12, 2012 /PRNewswire/ -- Colombia Energy Resources, Inc. (OTCBB: CERX), a mining company focused on developing metallurgical coal production from coal deposits in the Republic of Colombia, strengthened its management team with the addition of industry veteran, Brian L. Miller. Miller will join CERX on April 15 as vice president of business development, strategic planning and marketing.
Miller brings to Colombia Energy Resources more than 30 years' experience in finance and business development, operational analysis, and natural resources consulting. His background also includes strategic planning, new business development, acquisitions, transactional due diligence, risk management, competitive analyses, and budgeting and forecasting.
Miller has held numerous senior management positions in the natural resources and coal industry, most recently as a vice president of Alpha Natural Resources. At Alpha, he was a member of its Enterprise Risk Management (ERM) group, where he was responsible for implementing a companywide ERM program subsequent to Alpha's 2011 acquisition of Massey Energy. He also served as Alpha's treasurer, responsible for cash management, long term financing and establishing credit policy.
"Brian brings to our management team a tremendous wealth of knowledge and experience," said Ron Stovash, Colombia Energy's president and CEO. "His understanding of the coal marketplace and financial disciplines, as well as his keen ability to negotiate strategic resource acquisitions, aligns well with our efforts to build and develop a world-class portfolio of Colombian coal assets."
Miller commented: "I am excited to join the Colombia Energy Resources team at this pivotal point in the company's development. CERX has accumulated a high quality portfolio of metallurgical coal assets in the Republic of Colombia, providing an excellent foundation for substantial growth in production. I am looking forward to assisting the company in continuing the process of finding and developing select properties in Colombia, particularly those suitable for implementing modern mining practices that enables them to be mined more efficiently and productively."
Miller previously served as vice president of business development for Foundation Coal Corp. prior to its merger with Alpha Natural Resources. At Foundation, he was a key member of the management team responsible for identifying, reviewing and executing acquisition and divestiture efforts, corporate strategy, and managing the strategic and financial components of project development.
Miller also formerly vice president of finance and acquisitions for DTE Coal Services, accountable for M&A activities and new business ventures. Miller also previously served as director of business development for Cyprus Amax Minerals Co. and chief financial officer at Trend Mining Co.
Miller earned his AB in Urban Studies/Political Science from Columbia College, an MPP in Public Policy from the University of California, Berkeley, and his MBA in Finance and Accounting from Columbia University Graduate School of Business.
For additional information about Colombia Energy Resources, contact Liolios Group at 949-574-3860 or email [email protected].
About Colombia Energy Resources, Inc.
Colombia Energy Resources (OTCBB: CERX) is a metallurgical coal exploration and mining company. CERX is exploring coal deposits and developing coal mines at company controlled mining concessions. The company currently controls mining concessions underlying approximately 25,000 acres of land in the Republic of Colombia which is the world's tenth largest producer and sixth largest exporter of coal. The country also has the largest reserve base in South America with an estimated 7 billion metric tons (MT) of recoverable reserves and 17 billion MT of potential reserves.
The company plans to import international mining best practices to Colombia as it becomes a leading consolidator in the Colombian metallurgical coal market. CERX's team of executives, advisors and partners is comprised of experienced entrepreneurs and business professionals in the U.S. and Colombia with a breadth of experience in coal mining as well as substantial industry relationships.
This release contains forward-looking statements regarding CERX's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, fluctuations in coal and energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. Colombia Energy Resources, Inc. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact: Daniel Carlson Executive Vice President [email protected] Tel 415-460-1165
Investor Relations: Liolios Group, Inc. Justin Vaicek Tel 949-574-3860 [email protected]