The drinking water supply crisis in Panama City has opened expansion opportunities for drilling companies.
What was once an activity which took place mainly in rural areas, is now having a sharp rise in Panama City. The water shortage could last longer or recur in the future, and the solution to install storage tanks or buy bottled water is being supplemented by drilling wells to ensure continuous supply.
The Colombian company Mineros SA, owner of HEMCO in Nicaragua has announced that it will reduce investments in Colombia and focus on operation of the gold mine La Bonanza, in the Central American country.
In the municipality of Bonanza the traditional method of using cyanide and mercury will be abandoned and instead the gravimetric and flotation method will be implemented.
"Alvaro Peralta, HEMCO's Manager, explained that in coordination with the municipal government and the miners, they are implementing new industrial technologies, and for this reason it has been proposed that the municipality of Triángulo Minero be declared "the first mercury-free mining town in Nicaragua" according to an article in Elnuevodiario.com.ni.
The mining company Hemco is diversifying its activities and investing $138 million in hydropower, forestry and call centers in Bonanza on the Nicaraguan Atlantic.
Hemco Nicaragua SA is a good example of how private initiatives can contribute to the social and economic development of a country with its increase in investment following a strategy of diversification.
HEMCO, a company engaged in mineral exploration and hydroelectric power, recently announced plans to invest a total of $50.5 million in the installation of two renewable energy projects in Nicaragua, which have the capacity to generate 20MW.
The concessionaire B2Gold expects to invest $44 million this year in the La Libertad, Santo Domingo and El Limón mines, while HEMCO SA plans to spend $14 million on the operation of the Bonanza mine.
During the period 2013-2014 B2Gold extracted 197,808 ounces from El Limon and La Libertad mines, while HEMCO achieved a total production of 113,770 ounces. It is expected that the investments from both companies will reache $55 million, to be allocated, in both cases, towards increasing production capacity in order to supercede figures reported in 2014.
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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