The Government approved the swap of gold mine concessions between B2Gold Corp and Condor Resources.
Under the agreement between the two companies the concessions known as "La India" and "Espinito San Pablo" will be unified under the name "La India Gold" and will be owned 80% by Condor and 20% by B2Gold Corp.
Canadian corporation B2Gold invested $54 million to reopen the gold mine located in the province of Chontales.
B2Gold plans to extract 90.000 gold ounces a year, generating exports for approximately $85 million.
Emilio Rappaccioli, Energy Minister, commented that the new mine will double the country’s mining production, making gold the second or third most important export product. This will contribute $30 million a year to the country’s economy, he estimated.
During the period, La Libertad mine produced 24.865 ounces and the Limon Mine 9.174, generating sales of $ 34.4 million and $ 12.6 million, respectively, for a total of 34.039 ounces and $ 47 million in revenues.
The Canadian mining company B2Gold Corp. has announced positive results in the drilling for gold in La Libertad mine.
B2B released the results of drilling carried out as part of its exploration programs at La Libertad Mine located in Nicaragua. These results extend through the area of Jabali, and show potential for extracting about 100 meters below the current exploration area.
In a press release, Calibre explained that this phase of exploration has an available budget $441,000, and that they will focus on three areas that show a potential of up to 1.48 grams of gold per ton.
After six years of exploration the company B2Gold has confirmed the operation of a new mine in Rancho Grande.
At the moment the El Pavón project is at the stage of consultations with local authorities and the population for the purpose of assessing environmental impact, explained Martin Espalza, a representative from B2Gold.
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