Colombia's Ruku flexes 4Mt resource

SOUTH America-focused metallurgical coal explorer and producer Colombia Energy Resources confirmed its newly inaugurated Ruku mine has more than 4 million tonnes of coal.
Colombia's Ruku flexes 4Mt resource Colombia's Ruku flexes 4Mt resource Colombia's Ruku flexes 4Mt resource Colombia's Ruku flexes 4Mt resource Colombia's Ruku flexes 4Mt resource

A map of Colombia Energy's properties in Colombia. Courtesy Colombia Energy Resources.

Justin Niessner

The NI 43-101 compliance report counted the site’s measured and indicated resources at 2.4Mt and inferred coal at 1.8Mt.

The company said at Ruku’s intended production levels, the results of the report allowed for a 25-year mine life but additional drilling was planned to further update the resource.

Colombia Energy chief executive Ronald Stovash said the report was a critical step towards acquiring a dual listing in Canada and reaching the long-term goal of producing 1 million tonnes per annum across all the company’s properties by 2015.

The encouraging news came after vandalism caused Ruku to be shut down in February.

After being brought online in December 2011, Ruku was producing 1800 tons per month until the February stoppage.

Maintenance and rehabilitation efforts are expected to get the mine back in production within 30 days.

Colombia Energy controls mining concessions over 25,000 acres in the Boyaca region of Colombia.

The San Francisco-based company’s Colombian holdings comprise four metallurgical coal blocks, of which the 226-acre Ruku is the smallest.

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