Brazilian power company MPX Energia S.A has bought 521 hectares of land in Colombia on which it plans to build a 20 mtpa coal export terminal.
It plans to spend $150M on the port that will be located in the Dibulla region, Department of La Guajira.
The area acquired is located on the Colombian Atlantic Coast, at approximately 150 km from MPX’s concession areas. A technical report on coal resources and reserves, by consultants John T. Boyd, will be concluded in March 2010.
MPX anticipates that the start-up of the mines will be in the second half of 2011.
Given the successful results obtained so far in the drilling campaign and the assurance of a logistics solution for exporting coal, MPX now controls an important integrated coal mining system in Colombia, which will supply the Brazilian and international markets, MPX says.
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