Iron Exploration in Guatemala Gives Good Results
Tikal Minerals, G4G and Iron Sands have confirmed that preliminary studies indicate that the exploitation of iron sands is feasible.
Monday, August 23, 2010
Tikal Minerals, which has three exploration licenses, commented that it may be possible to obtain an annual average of 10 million tons of iron, located 10 meters below ground. It is estimated that up to 12% of world iron deposits may be located on Guatemalan soil.
G4G Resources and Iron Sands Americas will conduct a sample study in an area of 300 square km on the Guatemalan coast.
The Ministry of Energy and Mines extended in six months the license to G4G Resources to explore the iron sands on the pacific shores.
A Chinese-Australian owned mining company has now presented the EIA required by Guatemalan authorities in order to explore for iron in beach sands.
The Director General Mining of Guatemala issued an Off-Shore Reconnaissance License to G4G Resources and Iron Sands Americas.
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