Colombia Energy Resources, Inc a metallurgical coal exploration and production company operating in the Republic of Colombia, has begun making shipments from its Ruku mining complex after temporarily halting production earlier this year to make repairs and safety upgrades and to improve security at the site.
Since the Company restarted production on April 17, the production rate at Ruku has increased from prior levels of about 1,500 tonnes per month. CERX is targeting coal production from Ruku of greater than 7,000 tonnes per month by year end.
Mr Ronald G Stovash president and CEO of Colombia Energy Resources said that "With support from the federal and local provincial government, along with an active community outreach and education program, we are confident that our responses to the concerns and issues expressed by the local population are being effectively conveyed and that Ruku will remain in production on a consistent basis. The rehabilitation of Ruku has made it a safer, more economical and more productive facility, with this largely due to CERX introducing modern practices and policies for mining operations."
The company began shipping coal on June 15, with over 2,800 tonnes shipped to-date. Revenue from the initial sales will be reported in the company's second quarter financial statements.
The Ruku mining complex is located in the central portion of Colombia in the provincial department of Boyaca. The project contains four coal leases. Current production comes from a mine (#010-91) that is approximately 24.5 hectares (~60 acres) in size and has been in production for more than 18 years. Production from the Ruku mining complex has been supplying local customers with metallurgical coal.
Management issued its first 43-101 resource report on the Ruku mining complex earlier this year, which demonstrated 4.2 million tonnes of resources.
For additional information about Colombia Energy Resources, contact Liolios Group at 949-574-3860 or email CERX@liolios.com.
Source - Colombia Energy Resources
(www.coalguru.com)
