Houston (UPI) Oct 26, 2010
Colombia's coal production received a timely boost after new deals secured by
Colombia Clean Power & Fuels, Inc., a Texas company with an active subsidiary in the Latin American country.
Colombia Clean Power & Fuels, Inc. said it completed the acquisition of two initial coal mining concessions and reached agreement on acquiring a third adjacent concession in the Santander district of Colombia, covering another 10,873 acres. The new acquisition brings the company's total concession coverage to 17,481 acres.
Colombia is the world's 10th largest producer and fourth largest exporter of coal, with an estimated 7.7 billion tons of recoverable reserves and 18.7 billion tons of potential reserves, the second-largest in South America after Brazil.
In a few years, Colombia has more than doubled production that reached 95.4 million tons in 2008. Coal earns one-fourth of the country's total export revenue.
The U.S. Energy Information Administration said Colombia's coal production will continue to increase in coming years, as exploration and mining development continue. Colombia's coal consumption was only 5.72 million tons in 2008, leaving most of the production available for export.
Colombia completed the privatization of its coal sector in 2004 with the closing of state-owned Minercol company, and has encouraged private investors since. The largest coal producer, Carbones del Cerrejon consortium, made up of Anglo-American, BHP Billiton and Glencore, operates the Cerrejon Zona Norte, the largest coal mine in Latin America and the largest open-cast coal mine in the world.
Edward Mooney, chief executive officer of Colombia Clean Power & Fuels, said the acquisitions gave the company confidence it could achieve its goal of controlling more than 300 million tons of proven reserves.
The company has already begun exploratory drilling program as part of feasibility work on a formal mining plan. Operations so far have involved coal mining, coal coking and clean coal technology use.
Most Colombian coal exports go to Europe, other parts of South America and North America, with the vast majority of producing and exporting infrastructure on the Caribbean coast. In the first nine months of 2009, the United States imported 15 million tons of Colombian coal, about 80 percent of total U.S. coal imports.
Also last year, Colombia began exporting sizable quantities to Asian markets, especially China, in response to a combination of higher prices in Asia, lower freight costs and a drop in exports to the United States.
Analysts said the expansion of the Panama Canal -- likely to be completed by 2015 -- could help Colombia export greater quantities of coal to Asia.
Share This Article With Planet Earth
Surviving the Pits
China mines to beef up safety after Chile rescue: official
Beijing (AFP) Oct 21, 2010
China will step up implementation of underground safety systems to help miners survive accidents, a top official has said, after the Chile mine rescue saga highlighted China's safety shortcomings. China will "speed up the provision of underground emergency shelters and refuge chambers, systems for locating and communicating with underground workers, and monitoring and control systems," Luo L ... read more
Taiwan sends in heavy equipment in search of typhoon missing|
New Acoustic Early Warning System For Landslide Prediction
S.Korea sends promised flood relief aid to N.Korea
DHS Conducts Nationwide ID Authentication Test For Emergency Preparedness
Australia's Telstra iPad-style budget tablet
Secure World Foundation Holds Space Debris Workshop
Amazon says e-book sales of best-sellers double print
ARTEMIS Spacecraft Believed Stuck By Object
China fills Three Gorges Dam reservoir to capacity
European nations sink bluefin tuna quota reduction
Measuring sea-level rise in the Falklands
US awards Jordan 275-million-dollar grant to improve water
NASA Airborne Science Campaign Begins Antarctic Sequel
UBC Underwater Robot To Explore Ice-Covered Ocean And Antarctic Ice Shelf
Susitna Glacier, Alaska
US warns of record Arctic warming
Brazil says UN biodiversity summit needs biopiracy deal
Lack of crop diversity threatens food security: UN
Global food fest urges return to farmers' 'common sense'
Russia to lift ban on flour exports
13 dead as Indonesia's Mount Merapi volcano erupts
Tsunami, volcanic eruption leave 121 dead in Indonesia
S.Korea flood relief aid for N.Korea delayed by bad weather
At least 27 dead after cyclone pounds Myanmar: state media
Madagascar's illicit wood trade to China
Africa's tech explosion holds promise of economic growth
UN to open peace and security office in Gabon
Rwanda, China boost military ties
Study: Human ancestors not 'out of Africa'
How Genes Are Selectively Silenced
Study predicts women in power, Muslims heading West
Baby born from embryo frozen 19 years
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement|