The Ruku concessions are located near Socota, Boyaca, and complement prior acquisitions made by the company in Colombia’s Santander district.
CCPF has acquired a 70% working interest in the concessions, which include active metallurgical coal mining operations that currently produce about 10,000 tons of coal per year.
The company is planning to invest additional capital to increase production over the next two years.
CCPF Colombian subsidiary president Carlos Soto said this is an important transaction for the company, not only because it adds additional properties to its portfolio, but because CCPF is also acquiring an operating, fully-permitted mine.
CCPF is developing coal mining, coal coking and clean coal technology operations in Colombia.
