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$NEWC News – New Colombia Resources Inc. Announces US$ 90 Million Purchase Order for Metallurgical Coal from a Major Steel Trader for Delivery to China Steel Mills

Thursday, January 5, 2017 7:03
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FinancialNewsMedia.com News Alert: First shipment is scheduled for April 2017 with subsequent shipments through December- BARRANQUILLA, COLOMBIA – (http://www.financialnewsmedia.com News Alert) – New Colombia Resources, Inc. (OTC: NEWC) (“New Colombia or the ‘Company”), a Colombian company listed in the U.S. with premium metallurgical coal properties and medical marijuana operations, is pleased to announce they have signed a US$ 90 Million purchase agreement for metallurgical coal with American Steel Industries, LLC (ASI) of Philadelphia, PA, a joint venture partner with a Chinese Government owned Multi-Billion Dollar Commodities and Steel Trading Company. ASI has been exporting steel from China for the past 12 years and is one of its largest steel exporters, for more information about ASI, visit http://www.asi-steel.com/.

Deliveries loaded at the port in Colombia for shipment to South China in 2017 will be as follows:

- April- 60,000 tonnes

- May- 40,000 tonnes

- June- 40,000 tonnes

- July-December- 60,000 tonnes/month

This contract will be filled by New Colombia’s joint venture with MSG Mining Corp. The joint venture has sourced the coal to make timely deliveries per the agreement. Some of the coal will be supplied by the joint venture’s Mina San Gregorio in Cucuta, Colombia with the remainder being sourced from third party producers. The coal will be stored at the Company’s coal yard in Cucuta with a 50,000 tonne capacity and industrial scale, then trucked or barged to a port on the Caribbean coast for shipment to South China. Read this and more news for NEWC at: http://financialnewsmedia.com/profiles/newc.html

In November 2016, New Colombia Resources entered into a joint venture agreement to operate metallurgical coal Concession Contract JC3-15231 located in the municipality of Zulia, approximately 25 km from Cucuta, Colombia. New Colombia Resources and MSG Mining Corp. are registering a Colombian subsidiary that is 51% owned by New Colombia Resources and 49% owned by MSG Mining Corp. Engineers have been onsite since early December updating the Work Plan and Environmental Management Plan for a 10,000 tonne/month operation to begin coal mining in February…



Source: http://www.financialnewsmedia.com/stock-investing-business-investing-news/featured-news.php?id=942

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