SAN FRANCISCO, April 5, 2012 /PRNewswire/ -- Colombia
Energy Resources, Inc. (OTCBB: CERX), a metallurgical coal
exploration and production company operating in the Republic of
Colombia, has released the initial
independent resource report on its Ruku Mining Complex, which is
available for download from www.colombiaenergyresources.com.
(Logo:
http://photos.prnewswire.com/prnh/20120208/AQ50047LOGO)
"The completion of our first compliant resource report is a
major milestone for CERX," said company CEO Ronald G. Stovash. "In addition to providing our
shareholders with more information on our coal qualities and
quantities, it also represents a critical step toward a dual
listing in Canada later this
year."
The Ruku Mining Complex is located near the village of
San Pedro in the municipality of
Socota, a provincial department of Boyaca, Colombia. The total area of the Ruku project
is comprised of four adjacent coal mining concessions totaling
approximately 91 hectares (226 acres), one of which has been
producing metallurgical coal for nearly 18 years.
After acquiring the Ruku complex last year, CERX temporarily
closed the mine to improve safety protocols and operating
conditions. The mine was brought back into production in December
and was producing 1,800 tons of coal per month until February, when
mining operations were stopped due to vandalism. Maintenance and
rehabilitation programs have continued, and management expects
production at the mine to restart within 30 days.
Coal produced from Ruku has been characterized as high quality,
low volatile metallurgical coal with typical quality
characteristics approximating 19% volatile matter, 6.5% ash, 4%
moisture,
