Demands Over Lack of Mining Law

In Honduras there are 151 operating permit applications for mining projects involving huge investments that are waiting to be processed.

Friday, June 1, 2012

Businessmen say that "The lack of a law regulating the mining sector is the main obstacle to the 151 stalled requests by foreign and national investors, who have millions available to exploit deposits in Honduras."

Santos Gabino Carvajal, president of the Anamimh (National Association of Metal Mining in Honduras), said he knows of proposals from China, India, Korea, Brazil and Colombia who want to invest in the mining industry, however, these investments are contingent upon the approval of the mining law which has been paralyzed in Congress for eight years.

It is estimated that the amount of potential but unrealized investments in mining in Honduras reached $3 billion.

More on this topic

Disincentives to Mining in Honduras

February 2014

The attractiveness of the mineral resources in the country is overshadowed by legislation that raises doubts among international investors.  

The validity of the Act on Promotion of the Development and Reconversion of Public Debt is raising doubts among international investors interested in mining in Honduras, according to Santos Gabino, advisor to the National Association of Metal Mining in Honduras.

Honduras: Investment in Mining Industry Growing

January 2014

The growth of the metal mining sector and the framework provided by a new mining law have generated interest from foreign companies.  

Up until October 2013, the share of mineral products in exports of general merchandise was $232.7 million, equivalent to 7%. This, and the adoption of a new mining law last year, has attracted interest from foreign investors who have set their eyes on Honduras.

Unproductive Mining Concessions At Risk

August 2013

The so called "Mortgage Law" in Honduras is causing alarm to mining companies who hold unproductive concessions.

According to an article in in a meeting with representatives from the U.S. Embassy in Honduras, "The leadership of the National Association of Metal Mining Companies in Honduras (Anamimh) has formalized its position against the applicability of the Law on Development Promotion and Domestic Debt Restructuring, because it is a threat and an attack against the local mining industry and deserves to be vetoed by President Porfirio Lobo. "

Iron From Honduras to China

May 2013

A government commission has traveled to China to negotiate direct sales of iron oxide from the Agalteca mine.

This was stated by Santos Gabino Carvajal, president of the National Association of Metal Mining in Honduras (Anamimh), who in a meeting with Aldo Santos, chief of the Directorate for the Promotion of Mining (Defomin), explained that the idea is to send in directly iron oxide mined in Agalteca in Francisco Morazán.

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