CORAL SPRINGS, Florida, September 11, 2013 /PRNewswire/ --
Wednesday morning's news updates for active mining & energy companies with current market trends: New Colombia Resources, Inc. (OTCQB: NEWC), Peabody Energy Corporation (NYSE: BTU), Kinder Morgan, Inc. (NYSE: KMI), Walter Energy, Inc. (NYSE: WLT) and Vale S.A. (NYSE: VALE).
New Colombia Resources, Inc. (OTCQB: NEWC) Headline: New Colombia Resources Inc. Submits Drilling Quote Request from International Drilling Company. The Company submitted a tender request to Cabo Drilling and is waiting for a quote for their metallurgical coal mine project in Guaduas, Colombia. The Company visited the site with a representative of Cabo Drilling, a Canadian company with offices in Panama and Colombia. New Colombia expects to drill a minimum of 1200 meters that may be extended to 2000 meters. The recently completed drill program from SGS recommends 4 holes of 300 meters each, however upon the site visit the company would like to extend that program by 4 holes of 200 meters each for a total of 2000 meters.
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T The Company is also getting quotes from other drillers in the area to choose the best estimate for the work that needs to be done. Upon completion of the drilling, SGS will take the core samples to their laboratory in Barranquilla, Colombia for analysis and a subsequent N.I. 43-101 Technical Report. The drill results will also allow the Company to complete their environmental impact study and an in depth 3D Geological Model. New Colombia Resources plans to apply for their drill permits this week at the C.A.R. (Autonomous Regional Corporation) in Guaduas, Cundinamarca. The Company expects this permit process to take less than 7-10 business days..
Peabody Energy Corporation (BTU) engages in the mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments. It is involved in mining of thermal coal to electric utilities and metallurgical coal for industrial customers. The company own interests in 28 coal mining operations located in the United States and Australia, as well as owns non-controlling interest in a Venezuela mine. It also engages in trading and brokerage of coal. In addition, the company operates a mine-mouth coal-fueled generating plant; and Btu Conversion and clean coal technologies. As of December 31, 2012, it had 9.3 billion tons of proven and probable coal reserves. BTU closed up slightly at $18.77 per share on Tuesday September 10, 2013 on 8.7MIl shares.
Kinder Morgan, Inc. (KMI) News: Construction of the approximately 141-mile, 16-inch diameter Parkway Pipeline, a 50-50 joint venture between Kinder Morgan Energy Partners, L.P. (KMP) and Valero Energy Corp (NYSE: VLO), is complete and is now transporting refined petroleum products from refineries in Norco, La., to an existing petroleum transportation hub in Collins, Miss., owned by Plantation Pipe Line Company. (Kinder Morgan owns 51 percent of Plantation Pipe Line Company and operates the system.) From this hub the products will be transported by multiple pipeline systems, including Plantation, that serve major markets in the eastern United States. The approximately $250 million pipeline system has an initial capacity of 110,000 barrels per day (bpd) with the ability to expand to over 200,000 bpd.
Walter Energy, Inc. (WLT) News: Researched by Industrial Info Resources (Sugar Land, Texas) -- Industrial projects with a combined total investment value of more than $10.9 billion are on the books to kick off in the U.S. Southeast market region in the second half of 2013. The region includes the states of Mississippi, Alabama, Georgia, Tennessee and Florida. The largest project to get under way in the region in the second half of the year is Walter Energy Incorporated's (WLT) (Birmingham, Alabama) construction of a metallurgical coal mine near Berry, Alabama.
Vale S.A. (VALE) engages in the research, production, and marketing of iron ore and pellets, nickel, fertilizers, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally. Its Bulk Material segment engages in the extraction of iron ore and pellet production, as well as operation of transport systems in Brazil, including railroads, ports, and terminals related to mining operations. This segment is also involved in the production of manganese and ferroalloys; and mining of coal. The company's Base Metals segment produces non-ferrous minerals, including nickel and copper; and aluminum products. VALE closed up slightly at $16.81 per share on Tuesday September 10, 2013 on heavy volume trading of 37.6MIl shares traded..
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