IBUT NITI's offices are located in Cali, Department of Valle del Cauca. The 19 mining concession Titles are located in the Department of Guainía.
The company IBUT NITI SAS was founded in 2010 in Cali, Valle del Cauca. Ibut Niti SAS is a Colombian company, pioneer in the acquisition of mining concession for exploration and extraction of gold, tantalite, and rare earths in the department of Guainia, located in the south eastern region of the country. Both government and private geological studies estimate the Guainia department to have the largest gold and strategic minerals deposits in Colombia.
Our vision is to consolidate the national leadership in the exploration and extraction of strategic minerals, based on a commercial portfolio of high grade ores and the acquisition, exploration and mining development of new areas in the Colombian territory. The principal axis of our vision is the rigorous implementation of environmental management plans, transparency and effectiveness of our corporate social responsibility policies and the projection of the company as a global example of responsible mining.
IBUT NITI SAS acquired 19 concession titles in 2010 with a total area of 36,162.5 hectares in the Corregimiento Departamental Pana Pana, Department of Guainia, a territory studied by Colombian geological and mining government agencies and considered as having major deposits of Gold, Tantalite, and Columbite. Different samples collected through prospecting in the concession areas and analyzed in laboratories have shown high concentrations of Ta2O5 Nb2O5 and Au and elements.
The law firm Cárdenas & Cárdenas, renowned in the national mining sector, has overseen the transfer of the 19 mining lease contracts and concessions to IBUT NITI SAS. Our company has paid on time the fees to the government and has advanced on the previous colsultation with local communities and on the substraction from forest reserve law for one of the titles. Once these plans are approved by the regulatory entities, IBUT NITI SAS may begin an anticipated extraction in this title.
Colombia studies declaring departments Guainía and Vaupes as Strategic Mining Areas:
Words by Former Minister of Mines and Energy Mauricio Cardenas:
“… Rare Earths and Coltan, are a resource which Colombia has in abundant manner, specially in the Vaupes and Guainia departmens. These areas have potential for extracting Coltan and are being declared as strategic mining areas, they won’t make part of the standard process of granting mining concession titles**… they will be reserved by the country.”
“It is very important to speak to china because Rare Earths and Coltan are very scarcely found on the planet and what is particular to these minerals is that they remain in solid state at very high temperatures. For this reason they are required in semiconductors and turbines. They are essential minerals and Colombia has them, they are strategic and very expensive.”
“It is important to know that Colombia has this great wealth, as are oil, carbon, and nickel, which are attracting so much attention, and is what permits us to have a high income. Looking forward, Coltan and these strategic minerals will be leaders in the mining sector.”
**Note: Titles granted before this decision will be fully respected. It is important to state that IBUT NITI, a private company, owns 19 mining concession titles adding over 36,000 hectares with legal rights for commencing full scale geological exploration activities. The total hectares of IBUT Niti’s mining concessions represents over 80% of the total mining concession granted so far by the Colombia government, and will surely remain as the only private held mining concessions in the Guiana Department. The rest of the department will be reserved by the country under Strategic Mining Areas with a different regulatory framework.
| No. | Titles | Area | Concession Legal Status |
| 1 | IH3-15401 | 861 ha | ACTIVE |
| 2 | IH3-15421 | 1996 ha | ACTIVE |
| 3 | IH3-15461 | 1996 ha | ACTIVE |
| 4 | IH3-15481 | 1996 ha | ACTIVE |
| 5 | IH3-15491 | 1996 ha | ACTIVE |
| 6 | IH3-15511 | 1996 ha | ACTIVE |
| 7 | IH3-15521 | 1333.5 ha | ACTIVE |
| 8 | IH3-15531 | 1996 ha | ACTIVE |
| 9 | IH3-15551 | 1996 ha | ACTIVE |
| 10 | IH3-15581 | 1999 ha | ACTIVE |
| 11 | IH3-15591 | 1999 ha | ACTIVE |
| 12 | IH3-16011 | 1999 ha | SOLICITUD |
| 13 | IH3-16021 | 1999 ha | ACTIVE |
| 14 | IH8-10211 | 1999 ha | ACTIVE |
| 15 | IH8-10191 | 1999 ha | ACTIVE |
| 16 | IH8-10161 | 1999 ha | ACTIVE |
| 17 | IH8-10141 | 1999 ha | ACTIVE |
| 18 | IH8-10121 | 1999 ha | ACTIVE |
| 19 | IH8-10101 | 1999 ha | ACTIVE |
TOTAL AREA: 36162.5 ha
“The Department of Guainia is considered of one of the zones with highest mining potential in the country, specifically the south and south east of the department between PANA PANA and the Naquen mountainous region, which are part of the Guyana Shield (known today as the Amazon Craton), where IBUT NITI’s mining concessions are located. It concentrates large reserves of Gold, Platinum, rare earths, black sands rich in Tantalum, Niobium, Columbite, Diamonds, amongst other minerals of economic relevance. IBUT NITI’s production potential exceeds the most optimistic expectations.”
“After studying and evaluating in detail the different published studies from several geological investigations executed in the areas where the 19 mining concessions are located, it is concluded that all of the concessions are in the southern region of the Amazon Craton. In consequence, the mining concessions are geologically characterized by rocks from the Precambrian and a not to thick Quaternary cover.”
“The areas where IBUT NITI’s mining concessions are located, object of this geological study, were the old courses of the Guainia River, meaning it constitutes a zone of paleochannels, conformed by layers of gravels, sands and clays in which the maximum auriferous (gold) concentrations are evidenced.”
Certification Report of Auriferous Reserves and Resources
Elaborated by:
BOBB SAS, Mining and Engineering Services
The geodynamic and metallogenic context of the Guiana Shield poses a great potential for the occurrence of mineral deposits associated with rift environments and active margin magmatic arcs amongst others. These are of great importance to mafic and ultramafic, carbonatites and granitic associations, which can carry PGE's, Nb, Ta, Fe, Sn, Au, W, Cu-Pb-Zn, U, V, Ag, REE, apatite, lithium, topaz, tourmaline, ilmenite in addition to deposits of Al, Au, Fe, Mn, Ti, coltan and diamonds.
Ingeominas
Certification Report of Gold Reserves
IBUT NITI contracted the services of the consulting firm BOBB SAS, Mining and Engineering Services, to execute a Certification Report of Auriferous Reserves and Resources of the 19 mining concessions located in Guainia, Colombia.
The report estimates inferred reserves of gold above 85 million troy ounces.
The Certification Report is available for review.
COMMERCIAL VALUE OF IBUT NITI’S INFERRED GOLD RESERVES:
USD$1,787,724,099 (USD$1,787 MM)
FORMULA: ESTIMATED RESERVES TROY OUNCES * ( PRICE TROY OUNCE *2% - USD$10)
(85,129,719 troy ounces) * ((USD$1,549.60)*(2%) – (USD$10.00))
(85,129,719 troy ounces) * ($USD21.00) = USD$1,787,724,099.00
LAB ANALYSYS OF MINERAL SAMPLES COLLECTED THROUGH PROSPECTING ACTIVITIES FROM IBUT NITI’S MINING CONCESSIONS
The above lab analysis show the great potential for the discovery of deposits of Strategic Minerals in IBUT NITI’s mining concession areas. A potential for mining DIAMONDS is a possiblity in the area.
Photos of samples
