Honduras Could Sell 280 Mining Concessions

President Lobo intends to sell around 280 active mining concessions which are currently unused.

Tuesday, July 30, 2013

Elheraldo.hn reports: "The Law of Public Debt Restructuring deals with the sale or disposal of idle state assets, including projects in the area of ​​natural resources, mining, energy and telecommunications."

According to president Porfirio Lobo, any concession must comply with the provisions of the recently adopted General Mining Law and then one of three routes pointing to the so called "mortgage law " must be defined in order for a concession contract to be awarded.

"Everything that is being done is based on the Mining Law, everything, that is, after compliance is made with the what the law dicatates, the government can take three paths: a concession with Inhgeomin (Honduran Institute of Geology and Mines), or transfering the project to Coalianza or making another project corresponding to the Finance Ministry," he said.

"The most convenient route that suggested in the decree, is that the project arrives at Finance, it is reviewed, it is analyzed and transferred to the Central Bank of Honduras (BCH), as trustee, the Bank's technical committee (composed of Sefin, Coalianza, the Ahiba, the Serna, and the BCH) has the project and transfers to a sub- trustee" he said.

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