Minerals exploration and mining company TransAmerican Minerals has been granted a mine permit authorizing the development of a surface coal mine by the Colombian governmentâ€™s Ministry of Mines and Energy, and is moving ahead with planned shares offering.
Online PR News – 29-August-2011 – – Bogota, Colombia â€“ Minerals exploration and mining company TransAmerican Minerals has been granted a mine permit authorizing the development of a surface coal mine by the Colombian governmentâ€™s Ministry of Mines and Energy. After the long and methodical process to become certified compliant and registered TransAmerican Minerals is now offering shares to qualified investors.
With the granting of this permit, the TransAmerican Minerals has now secured all of the required documentation for mining , effective immediately. The surface coal mine operations employed by TransAmerican Minerals will make use of conventional open-pit mining techniques by means of truck and shovel methods. Similar open-pit mining techniques will also be employed in the future at successive locations as permits are granted.
A spokesperson for TransAmerican had this to say. "We wanted to be certain we are not going to get any sediment or metals into the local water supply that would jeopardize the quality of the local environment where the proposed mine will be operated. After careful examination and planning we do not anticipate any problems. We are happy to announce that the governing authorities believe our plan to be environmentally sound and we are making preparations to commence the preliminary work, and then begin the excavation. Obtaining this permit represents a significant phase in our endeavor to increase our production levels and meet our goals for 2011."
About Colombian coal Mining
The nation of Colombia had a coal output of 74 million tons in 2010 making it the tenth largest exporter of coal. Colombia is the largest exporter in the South American region and possess the largest coal reserves on the continent. Colombiaâ€™s export of coal increased 85% since 1999, and is still on the rise with the nation posting increasing higher production rates annually.
Although the rate of production increases is slightly behind government projection the last two years due to unusually heavy rains Colombia's total coal exports for 2010 were estimated to be just over 68 million tons. Colombia's mining minister Carlos Rodado expects Colombiaâ€™s coal output will reach 144 million tons in 2020.
Because Europe is much closer to Colombia than Asia most of their coal is sold on the European market. The lower cost of freight and the low sulfur content of the Colombian coal are two factors that make Colombian coal highly marketable in Europe.
About TransAmerican Minerals
TransAmerican Minerals is a principal player in thermal coal solutions, advancing energy security, economic incentive and alternatives to protect the environment through the better use of coal. We work tirelessly to be a world-class supplier of thermal coal to the global marketplace, helping sustain expanding economies by fuelling the engines of growth. We apply a philosophy of sustainable development to our coal mining and coal use activities. Through our global reach, we are able to create meaningful synergy with other businesses within our group. TransAmerican Minerals is engaged in responsible mining and markets coal primarily as fuel for power generation.
As an ever-expanding mining company, TransAmerican Minerals provides a multitude of services pertaining to large, low-cost coal basins and we operate a sophisticated supply chain management network, partnering with logistical and transportation companies which are able to deliver coal products from the mines to the gates of our end users efficiently and cost-effectively. We serve the industrial sectors and focus on maintaining a fervent stance in the international market as well as a strong presence domestically.
TransAmerican Minerals is dedicated to providing state-of-the-art systems in mining and developing natural resources. With these effective systems in place, TransAmerican is changing the way resources are utilized for economic development and energy, primarily focusing on thermal coal and its development. This allows us to stay among the top mining companies in our field. Mr. inwood, believes that in offering value for customers, shareholders, and employees we create the best value for customers share holders, and employees respectively.
Certain information set forth in this press release contains â€śforward-looking statementsâ€ť, and â€śforward-looking informationâ€ť under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include managementâ€™s assessment of TransAmerican Mineralsâ€™ future plans and operations and are based on TransAmerican Mineralsâ€™ current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as â€śexpectsâ€ť â€śanticipatesâ€ť, â€śbelievesâ€ť, â€śprojectsâ€ť, â€śplansâ€ť, and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may causeTransAmerican Mineralsâ€™ actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. ; TransAmerican Mineralsâ€™ inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and coal processing operations; dependence on third party coal transportation systems; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; changes in the regulations in respect to the use of coal.