A Colombian coal mining coffee business is getting into the coffee game, announcing an alignment with a well-known Colombian producer and roastery for distribution in Colombia, North America Europe and China.
John Campo, the president of a company called New Colombia Resources has signed a letter of intent to acquire Colombia’s Café Tolima Don Diego, and plans to sell its USDA organic-certified coffees to supermarket chains, airlines and wholesale club grocers domestically and abroad, establishing sales offices in Colombia and the United States. The company is launching with an investment purchase of 16,000 pounds of coffee from the Tolima region, and Andres Castro of Bogota will help develop the roast.
Campo cites international coffee prices, combined with a slump in the coal market, make the timing right for the investment. “With coffee bean prices at an all time low, we feel this is the best time to enter the coffee business since the price on the shelf for organic coffee doesn’t reflect the low futures prices,” he said. “In reference to coking coal, I feel the recent upgrade of met coal stocks is very encouraging since we expect to begin selling coal in the coming months after prices have recovered.”