OREANDA-NEWS. May 28, 2012. As if today, CCX Carvao da Colombia S.A. that is now developing the EBX Group integrated coal mining project, is listed in BM&FBOVESPA’s Novo Mercado segment.  Under ticker symbol CCXC3 the new listing was  welcomed today at Espaco Raymundo Magliano Filho in a ceremony attended by EBX Group president Eike Batista; CCX CEO Leonardo Moretzsohn and  CCX Executive Board. BMF&BOVESPA executive director of products and clients Marcelo Maziero also attended the celebration.

Besides the symbolic sounding of the bell that marks the opening of the trading floor, Eike Batista celebrated the listing of the sixth EBX Group company in BMF&BOVESPA. “The entry of CCX in  Novo Mercado results from 4 years of much effort and dedication of Group teams in Brazil and in Colombia. The discovery of PCI type top quality coal was enabled by the state-of-the-art technology deployed for seismic surveys. The  San Juan mine is our Carajas of coal”, Eike said.

Born from the spin-off of MPX coal assets in Colombia, CCX is developing in that country the largest integrated coal mining greenfield project in Latin America, comprising an underground mine with production capacity aimed at 30 million tons/year, two open sky mines, which, together, will produce up to 5 million tons/year, besides a port an a 150 km railway.

The company has recently certified 5.6 billion tons of high quality coal resources in the San Juan underground mine in the regionj of Guarija, in Colombia. This volume places these among the largest PCI coal quality deposits (top quality) in the world. Coal reserves add up to approximately 672 million tons. Out of the total ore certified as reserves, over 92% is rated as PCI, wich makes the discovery even more important.

To CCX CEO Leonardo Moretzsohn the certification of the San Juan positions the company as a leading global coal mining market player.  “Because of the calorific power of over  6,200 kcal/kg and of the PCI rating, this ore may be traded with a 30% premium over the traditional average thermal coal price”, CCX top executive said.

Project estimated initial budget is USD  4 billion and includes the construction of the underground mine, the port and the railway. Mine production is planned for start-up in 2017. Later on, another USD  1,5 billion will be disbursed to take the underground mine to its full 30 million t/year capacity.

Now that CCX has joined the Novo Mercado, the BMF&BOVESPA highest corporate governance segment has 127 companies. Levels 1 and 2 remain with 35 and 20 companies, respectively.