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Pacific Coal Announces Updates on La Caypa, Cerro Largo and La Tigre
Dec. 05, 2012 09:52AM PST
Industrial Metals InvestingPacific Coal Resources Ltd. (TSXV: PAK) announced a strategic update, with information on the La Caypa underground initiative, a re-focusing of operations at the Cerro Largo property, signing of an agreement relating to La Tigra exploration, signing of the Barranquilla port sale MOU and an update regarding the cost reduction program initiatives.
Pacific Coal Resources Ltd. (TSXV: PAK) announced a strategic update, with information on the La Caypa underground initiative, a re-focusing of operations at the Cerro Largo property, signing of an agreement relating to La Tigra exploration, signing of the Barranquilla port sale MOU and an update regarding the cost reduction program initiatives.
As quoted in the press release:
The Company is advancing towards operation of an underground mine at La Caypa, with anticipated production of underground thermal coal beginning by the end of 2013. Pacific Coal’s new management team has begun negotiations in respect of carrying out this underground mine operation with OXBOW, a leader in underground coal production in the United States which also operates globally. Underground production at La Caypa is expected to reach 0.7 million tonnes of coal in 2014 and over 1.0 million tonnes annually from 2015 onwards. This production will be in addition to La Caypa’s continued open-pit mine production of approximately 1.0 million tonnes per year.