More info on the coal projects
Coal in Columbia
coal export market in columbia growing significantly. latin america's largest producer - very high quality reserves with low capital and operating costs, 70 million tons exported in 2007.
Galca (rail through middle)
Carboluis (San Luis coal basin)
carboluis project - potential to be over 20 million tons of high quality, surface mineable coal - 25% could be metallurgical coal. strategically located close to the caribbean highway, atlantic railway, and proposed carare railway. bituminous A with average BTU over 15,000.
Carboluis is located in the new San Luis coal basin - resource potential estimated at 300 million tons (based on 29 historical drill holes) - galway's land position represents 50% total area. centromin has 2yr old mine in the region and will be doing 600k tons per year.
Galca - potential for new world class coal basin. prodeco will fund 19 drill holes and if looks good, fund the feasability study for 60% earnin. Prodeco would pay $.80/ton up to $80 million for any coal tonnage found to earn in 100%. 77 concessions total 135,000 hectares. petroleum drilling and seismic info indicates significant coal seams in area and goal is to find coal "pushed to surface". nearby rail, river, and road access. Galca is located in southern part of Cesar State (mineral rich and excellent infrastructure)http://www.galwayresources.com/s/Galca.asp