Between January and September 2016 the countries of the region exported 399 thousand tons of metalliferous minerals, led by Guatemala, with 375 thousand tons.
Figures from the information system on the the Metal Ores Market in Central America , compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Clic para interactuar con la gráfica"]
The Public Prosecutor's Office has frozen the company's property, vehicles and bank accounts, because it has not yet paid the $8 million plus interest owed from an international arbitration case which it lost to the Salvadoran State.
From a statement issued by the Attorney General of El Salvador:
The Attorney General of the Republic managed to freeze buildings, vehicles and bank accounts owned by the mining company Oceana Gold, formerly Pacific Rim, for non-payment of court costs to the State of El Salvador, under an international arbitration case initiated by the mining company with the International Center for Settlement of Investment Disputes (ICSID), which it lost and in which it was ordered to pay eight million dollars for expenses incurred by the country.
The recently approved law prohibits exploration, extraction, exploitation and processing, at the surface or underground, and the use of toxic chemicals in any metal mining process.
In El Salvador the metal mining business does not have much significance, since up until now the income resulting from this activity has been very low.In 2013 the value of exported ores was only $1.3 million, going up to $1.6 million in 2014, and falling to $600,000 in 2015.
The union of mining companies is promoting the arrival of new foreign investments in order to achieve greater development and formalization of metal mining in the country.
The president of the Mining Chamber of Nicaragua (Caminic), Sergio Rios, presented to foreign businessmen the characteristics and conditions offered by the country's for mining investments and invited them to invest in the country and take advantage of its geological potential.
Mining, manufacturing and food companies project closing contracts with Central American companies worth at least $14 million this year.
"...Establishing contracts for commercial transactions worth between $13 and $14 million over the next 12 months, in the three Central American countries that they visited, is the goal of the Peruvian Trade Industry Mission," saidElmer Lava, from the Commission for the Promotion of Peru for Exports and Tourism (PromPeru).
Goldcorp has announced that the process of closing the gold mine has already started and will be completed within four to five months.
The company that owns the mine in San Marcos started the vegetation recovery process in 2012, when it finished open air exploitations, and is now completing the process of recovery in the underground area, which it expects to finish this year.
The union anticipates a positive year for the international price of gold, whose exports generated $357 million between January and November 2016, 12% more than in the previous year.
The stability of the international price of gold in 2016 was the main reason behind the good results achieved by the sector dedicated to metal mining in Nicaragua. Gold exports exceeded $357 million, according to data at CETREX and better results are projected for this year.
The business sector is against making retroactive consultations on mining and energy projects as they are already under development and is demanding regulation of the implementation of the ILO Convention 169 in order to protect investments.
The Canadian mining company GoldCorp has agreed to sell 100% of its stake in the gold and silver mining project Cerro Blanco located in Asuncion Mita, Jutiapa, to Bluestone Resources.
From a press release by Goldcorp:
VANCOUVER, Jan. 11, 2017 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) today announced that the Company has entered into an agreement (the "Agreement") pursuant to which it has agreed to sell its 100% interest in the Cerro Blanco gold-silver project, located in Guatemala, to Bluestone Resources Inc. (TSXV: BSR) ("Bluestone").
From January 10 there will be a rise in the fees for operating licenses for extracting construction materials, precious stones and semiprecious stones and other materials.
Arguing that the charges that have been in effect up until now"do not allow the state to comply with the policies and plans of the government, for the mining sector,"the Ministry of Energy and Mines has made changes to the the fees for mining licenses.
In 2015 Honduras and Guatemala exported ores such as zinc, nickel and other precious metals worth $47 million and $46 million respectively.
Figuresfrom the Report on Import and Export of Ores, Slag and Ash in Central America,prepared by the Business Intelligence Unit at CentralAmericaData.com show that in 2015 the countries in the region exported 1,207,000 tons of ores, slag and ash, equivalent in value to $93.4 million.
Through its subsidiary Cobra Gold, Glen Eagle Resources has acquired a property of 15,000 square meters in Choluteca, to build a processing plant.
From a statement issued by Glen Eagle Resources:
MONTREAL, QUEBEC–(Marketwired – Oct. 6, 2016) – Glen Eagle Resources Inc. (TSX VENTURE:GER) (“Glen Eagle” or the “Company”) is pleased to announce that Cobra Oro, a wholly owned subsidiary of Glen Eagle, has purchased 15 000 square meters of land in Choluteka, Honduras. Based on the transaction, Cobra Oro acquires its own free trade zone which will reinforce its past exemption to pay a minimum 25% flat tax on profits, 25% duty tax on imports, reduce from 6% to 3% the sales tax on export and cancelled $8 000 in monthly rent as a tenant. The acquisition will further secure Cobra Oro’s ongoing expansion project supported at its core by an asset strategically located in one of the fastest economic growth area of all Honduras due in part to its low criminality rate among other factors.
Armstrong Equipment, Inc. is an American based company that specializes in the distribution to Latin America of equipment and parts used in the mining sector, rock crushing and asphalt paving.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (305) 592 8361
Constructora Celaque is a leader when it comes to construction of civil projects and mining in Honduras with more than 15 years of experience.
Operates in Honduras and Honduras
Phone: (504) 2239 6794 - (504) 9905 7845