BOGOTA, Colombia, Sept. 11, 2012 (GLOBE NEWSWIRE) -- VSUS Technologies Inc. (OTCQB:VSUT) ("VSUS" or the "Company"), a metallurgical coal company in the Republic of Colombia, announced today they will be applying for another 1200 HA metallurgical coal concession in close proximity to their existing coal concession in the Cundinamarca Department of Colombia.
The Company has prospected and identified 14 coal outcrops in an area that is approximately 4 KM in length by 3 KM in width that it believes to have an inferred coal reserve of 100- 150 Million metric tons. The reserves are estimated to be 70% metallurgical and 30% thermal coal. The metallurgical is premium coal with 18- 21% volatile matter and a 68-73% fixed carbon content. "According to geologists in Colombia this is the Rolls Royce of coal, of the highest quality in the world," commented company president John Campo.
The company has contracted geologists to prepare the application which is ready to be submitted to Colombia's new Agencia Nacional de Mineria or the existing Servicio Geologico Minero, as soon as they begin to accept solicitations. The company has a team on the ground in the region prospecting to take advantage of the current mining boom in Colombia. Company shareholders have been prospecting and acquiring mining rights for coal in central Colombia for decades. "Being from this region gives us an edge over other international companies fighting to acquire Colombia's much sought after metallurgical coal reserves; we have our finger on the pulse of Colombia," further commented Mr. Campo.
VSUS Technologies will be making further announcements about more applications, other acquisitions, and a progress update. A lab analysis of their coal samples is available by emailing vsus@vsustechnologies.com.
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. VSUS has begun the environmental and geological studies on its wholly owned La Tabaquera coal mine with an estimated 17 Million tonnes of mostly metallurgical coal. Company shareholders have been prospecting and acquiring mining rights for coal in central Colombia for decades. The company also has a letter of intent with an existing shareholder to acquire a neighboring concession with another estimated 80 Million tonnes of reserve. Once a concession is acquired and the necessary financing is obtained, the Company will begin all the required 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 website at www.vsustechnologies.com
Transportation, Logistics and Other Information
With proper financing 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.
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 financing, 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.