Anthracite is a hard, compact variety of mineral coal that has the highest carbon content, contains the fewest impurities of all coals, is the lowest in volatile matter content and burns with a short, blue, and smokeless flame.

Abundant resources of anthracite coal are known to exist in northern Peru and through its wholly-owned subsidiary, Sudamericana de Carbon (SDC), field investigations are currently underway in both the Alto Chicama and the Santa basins (located in the Ancash and La Libertad departments) to significantly increase SDC’s portfolio of producing assets. All properties being evaluated are located in well known anthracite producing areas.

Vena’s goal is to produce clean coal products, for which local and international demand is increasing steadily. Currently, no large scale commercial anthracite operations exist in Peru and local producers have been unable to satisfy the Peruvian current industrial demand for this type of fuel.

Anthracite consumption in Peru is expected to reach 340,000 tonnes by 2008, gradually increasing to 587,000 tonnes by 2010. Analysts believe that the price of anthracite coal will rise from the current price of US$100 per tonne to US$150 per tonne by 2010.