The company has submitted applications for 184 hectares to the east and 3396 hectares to the south of contract. New Colombia expects to re-acquire a concession contract for 390 hectares to the west of the contract through a court order. The baseline of the environmental impact assessment covers all of these areas.
In order to begin mining operations in Colombia an environmental license and work permit are required. According to the company, by reaching this milestone it is within a few months of beginning their coal mining operations.
The company re-submitted their work plan earlier this year and expects it to be approved shortly after filing the EIA. The environmental permit significantly increases the value of the mining concession.
New Colombia Resources president John Campo said the company decided to hold off on drilling until it gets back the 390 hectares in order to include both concessions in the N.I. 43-101.
"I think our money is better spent submitting the EIA in order to get into production as soon as possible."
