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.
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").
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.
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.
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”).
Companies in the sector point to the favorable geological conditions for this activity in the country and advocate that the suspension of concessions which has been in effect since 2009 be lifted.
Companies engaged in exploration and mining activities support their argument citing the new ways in which the activity now takes place, differentiating the artisanal mining techniques which were used in the past from those used in modern mining.
A study on the importance of the mining sector in the country, carried out by the CABI, concludes that "the net profit for mining entrepreneurs is between 20% and 30% in normal times."
The analysis prepared by the Cabi said that the mining industry contributes 3.3% of GDP to the country directly and indirectly, a relatively small amount in the opinion of Paulo de Leon, at the Cabi, who believes that the sector has greater potential.
Less mining of metals such as silver, lead, zinc and iron oxide explains the 17% drop in mining activities in the first quarter, compared to the last quarter.
In the quarterly GDP report up to March 2016 the Central Bank states that"...The negative result in Mining and Quarrying (-17.0%) was associated with a decline in metal ore mining (silver, lead, zinc and iron oxide), which has been discouraged by low prices in the international market, which do not stimulate the development of projects aimed at exploring new mineral deposits. "
The launch of an online approval system for mineral export inspection has been announced.
From a statement issued by the Honduran Institute of Geology and Mines:
Tegucigalpa April 20, 2016.- In a representative event by the Honduran Institute of Geology and Mines INHGEOMIN, a step has been taken towards the cutting edge with the launch of the online Inspection Approval Module for Exporting Minerals, which is a new technology platform that will benefit exporters as a new form of communication between citizens and the INHGEOMIN in its capacity as regulator of mining activities in Honduras.
On August 16 and 17 industry representatives from around the globe will be taking part in business conferences and lectures on the role of mineral resources and the impact of the activity on the economy.
The II International Mining Congress is being organized by the Mining Chamber of Nicaragua and will be held on August 16 and 17 in Managua.
The canadian company B2Gold has announced that it will be carrying out studies to determine the feasibility of mining explotation in the municipality of Rancho Grande in Matagalpa.
Among the analysis to be carried out by the company in the area of Rancho Grande are studies on the "soil, water, air, flora, fauna and culture of the community" according to a report by Elnuevodiario.com.ni.
On November 12nd and 13th Panama City Latin American mining companies will be gathering together in Panama City to address the challenges and opportunities for the industry in Central America.
The Mining Chamber of Panama is organizing the event, in conjunction with the Latin American Mining Organization (Olami), called the First International Mining Congress, which will focus on the challenges and opportunities of mining activities in Central America.
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