BOGOTA, Colombia, Feb. 2, 2012 /PRNewswire/ --VSUS Technologies
Inc. (OTCQB: VSUT), a U.S. coal company with operations in
Colombia, today announced the
company has entered into a letter of intent to acquire the 390 HA
"La Herradura" Coal Mine in Guaduas, Colombia. The company
previously had signed a definitive agreement that acquired the 57
HA La Tabaquera coal mine that is in the final stages of the
environmental impact assessment (EIA). This EIA can be
amplified to include the new acquisition.
According to a recent engineering report posted on the company's
website, there are close to 17,000,000 metric ton of coal reserves
in the company's first acquisition, La Tabaquera. The company
expects this new acquisition to have an estimated 70- 100 MM metric
tons of coal reserves given that the mine is almost 7 times larger
than the adjacent La Tabaquera whose coal veins extend into La
Herradura. Coal reserves at La Tabaquera are estimated to be
70% metallurgical and 30% thermal coal. The company plans to
begin deep geological surveys to produce a N.I. 43-101 technical
report for both properties and expects La Tabaquera to be in
production in 2012.
Newcastle metallurgical coal prices for high quality coking coal
settled at US$ 235 per ton for Jan.1
quarterly contracts.
The global demand for coal has been increasing, especially in
India and China, and is expected to continue to do so
for the next five years according to the International Energy
Agency Medium-Term Coal Market Report 2011, which stated that
average coal demand is likely to grow by 600,000 tons per day over
the next five years. The IEA press release can be accessed by
visiting
http://www.iea.org/press/pressdetail.asp?PRESS_REL_ID=430
Colombia is currently the
world's fifth largest coal exporter and has the largest coal
reserves in South America. The World Bank ranks Colombia as the most business friendly country
in Latin America. It is also important to note they had the
best performing stock market in the world in 2010. According
to the United Nations, Foreign Direct Investment (FDI) jumped 113%
from 2010-2011 in Colombia, where
coal is a large underdeveloped opportunity, mostly untouched for 40
years.
Global Business Reports did an extensive report on Mining in
Colombia which was published in
the Engineering & Mining Journal (E&MJ). VSUS
Technologies' president, Mr. John
Campo, was interviewed for this report. The report is
available at
http://www.gbreports.com/admin/reports/EMJ-Colombia.pdf
"Coal exports in Colombia are
expected to reach 150 MM metric tons by 2015 from 85 MM mt in 2011,
they're expected to increase by 14% this year alone and we intend
to be part of this growth," stated John
Campo, President of VSUS Technologies.
Transportation, Logistics and Other Information
VSUS Technologies plans to build or acquire wholly owned river
loading facilities on the Magdalena River close to our mines. The
coal will be trucked to these river ports, and then barged via the
Magdalena River to terminals in Barranquilla, Santa Marta, or Cartagena for export. Initially
we will use existing service providers while our transportation
projects are being developed. The Colombian and Chinese Governments
are jointly improving railroads that will facilitate local coal
producers' ability to export. After the rail projects and the "Road
to the Sun" project are completed, VSUS Technologies will have one
of the only coal mines in the World with river, rail, and road
access to coal export terminals on both the Atlantic and Pacific
Oceans.
About VSUS Technologies Inc.
VSUS Technologies is a growing company that is acquiring coal
concessions in Colombia in order
to satisfy the world market demand for coal. Once a
concession is acquired, the company will begin all the necessary
environmental and geological studies to get them into production as
efficiently as possible. The Company plans to have three
revenue producing business units in Colombia: coal mining,
coking oven facilities, and docks and river transportation along
the Magdalena River. The Company is also exploring allegiances with
U.S. universities to study capturing Coal Bed Methane (CBM) in
Colombia. For more information on
our company visit our new website at www.vsustechnologies.com.
Forward Looking Statements
Forward Looking Statements: This Press Release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Act of
1934. A statement containing works such as "anticipate," "seek,"
"intend," "believe," "plan," "estimate," "expect," "project,"
"plan," or similar phrases may be deemed "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Some or all of the events or results
anticipated by these forward-looking statements may not occur.
Factors that could cause or contribute to such differences include
the future U.S. and global economies, the impact of competition,
and the Company's reliance on existing regulations. VSUS
Technologies Inc. does not undertake any duty nor does it intend to
update the results of these forward-looking statements.
CONTACT:
VSUS Technologies Inc.
Mr. John Campo
President
(1)-410-236-8200 USA
(57) 318-657-0918 Colombia
jcampo@vsustechnologies.com
VSUS Colombia
Cra. 16 # 79-31 Suite 703A
Bogota, Colombia
www.vsustechnologies.com
SOURCE VSUS Technologies, Inc.