New Colombia Resources, Inc., a Colombian company listed in the US, announced an update on their metallurgical coal mining operations this week. Earlier this month, the company announced the signing of a $90 million purchase agreement for metallurgical coal with American Steel Industries, LLC (ASI) of Philadelphia, Pennsylvania, a joint venture partner with a Chinese government-owned steel trading company that has been exporting steel from China for the past 12 years.
Deliveries loaded at the port in Colombia for shipment to South China in 2017 are expected to be as follows:
• April: 60,000 metric tons
• May: 40,000 mt
• June: 40,000 mt
• July-December: 60,000 mt/month