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.
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 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.
The arrival of foreign investment to the west of the country is being promoted, in places where there are already companies interested in developing the potential for metal mining in the area.
The Mining Chamber of Nicaragua projects growth of 5% in exports this year compared to 2015, driven by a rebound in gold prices internationally and investments in the sector.Sergio Rios, director of the union, also attributed the positive growth projection to the approximate 5% achieved in production.
Up to 150 tons per day of materials extracted from artisanal mines will be processed by the new plant, which is the result of an agreement between the State and the private sector.
The Mining Chamber of Nicaragua explained that the plant will operate under the"Mining for All"program, agreed between the business sector and the Nicaraguan government, in order to cater exclusively to artisanal workers.
The proposal to exploit the gold mine in Cerro Quema, Los Santos, was considered "viable" by the Evaluation and Environmental Management Department in Panama.
The Evaluation and Environmental Management Department at the Ministry of Environment recommended that the Environmental Impact Assessment (EIA) study for the project be approved.Prensa.com reports that now they are "... just waiting for the signature of approval from the Environment Minister Mirei Endara."
From November 23 to 25 Latin American mining companies will be meeting in Panama City to explore business opportunities for the mining industry in Central America.
The Mining Chamber of Panama is organizing, in conjunction with the Latin American Mining Organization (Olami) a Second International Mining Congress, which will focus on challenges and opportunities for mining activities in Central America.
The Belgian company Nyrstar sold to Morumbi Resources 100% of the subsidiary American Pacific Honduras, owner of the El Mochito zinc mine.
From a press release by Morumbi Resources:
Toronto, Ontario, September 22, 2016 – Morumbi Resources Inc. (“Morumbi” or the “Company”) (TSX-V:MOC) is pleased to announce that it has entered into a share purchase agreement (the “Agreement”) with certain affiliates of Nyrstar NV (collectively "Nyrstar") to purchase 100% of Nyrstar's indirect subsidiary American Pacific Honduras SA de CV ("AMPAC") and its flagship asset, the producing El Mochito Zinc Mine (collectively "El Mochito") in Honduras (the “Transaction”).
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