TORONTO, Nov. 20 /CNW/ - Coalcorp Mining Inc. ("Coalcorp" or the "Company") (TSX-CCJ) announced today that it has commenced coal shipments using its own rail cars through the Fenoco rail line (of which Coalcorp owns an 8.43% interest), to ship its coal from La Francia mine to a sea port in the Santa Marta area of Colombia. The coal was shipped pursuant to one of Coalcorp's short term coal sales contracts.
"We are delighted about achieving this very significant milestone, as acquiring and developing our rail transport infrastructure has been a key component of our strategy of becoming an integrated coal producer", said Joseph Belan, Chief Executive Officer of Coalcorp.
Coalcorp is a coal mining, exploration and development company with interests in the La Francia coal mine and related infrastructure projects and a number of coal exploration properties, all located in Colombia. Coalcorp also holds a 60% equity interest in CCC which owns the La Caypa coal mine in Colombia. Further information can be obtained by visiting our website at www.coalcorp.ca or under the Company's profile at www.sedar.com.
Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Coalcorp does not undertake to update any forward-looking statements; such statements speak only as of the date made.
For further information: Joseph Belan, Interim Chief Executive Officer, +57 - 1 - 658 - 5050 Ext: 9990
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