Disincentives to Mining in Honduras

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

Thursday, February 13, 2014

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.

"With this law they are taking an inventory of mining assets so that they can be purchased in a trust which is raising doubts among international investors," he said .

"Doubts are also being cast for entrepreneurs coming to the country over the 6% tax that exists in the Mining Act . I think this issue of taxes has generated some ... complications."

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In the last six years capacity mining production in the country has tripled and it is expected to increase even more with the startup of two new projects.

According to Denis Lanzas Cisneros, vice president of the Chamber of Mines of Nicaragua, one of the main reasons behind the growth of the sector in recent years is the regulatory framework which established the Mining Act, which "...

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.

Honduras’ Mining Potential

February 2013

The approval of the Mining Act has peaked the interest of investors interested in the exploration and exploitation of minerals, which could contribute up to $3.5 billion.

Laprensa.hn reports that "Santos Gabino Carvajal, president of the National Association of Metal Mining in Honduras (Anamimh), said that in the last seven years Honduras has not received a single dollar in mining investment, despite its great potential, and that all investments planned in the country were diverted to Nicaragua and Colombia. "

Demands Over Lack of Mining Law

June 2012

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

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."

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