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Canada's Red Eagle to open Colombian coal mine

Monday, August 17, 2015

Canada's Red Eagle Mining will invest a total of $120 million to open an underground gold mine in northwestern Colombia, the first gold-mine project to be launched in the Andean nation in the last 20 years, a company executive said.

A total of $40 million was invested in the exploration phase, from 2010 to 2015, Red Eagle Mining's Colombia manager Rafael Silva said, adding that an additional $80 million will be spent to build the mine.

Source: Efe