Gold: $50 Million Investment in Industrial Plant

Condor Gold, a British company that for 14 years has carried out exploration work in the province of León, in Nicaragua, announced that in 2021 it will invest in the construction of a metal processing plant.

Wednesday, December 16, 2020

According to company executives, the new industrial plant to be located in the municipality of Santa Rosa del Penon, will have the capacity to process 1,500 tons per day and the company is expected to start exporting by 2022.

You may be interested in "Gold: Exports increase 11%"

Aiser Sarria, general manager of the mining company Condor Gold, told Laprensa.com.ni that "... the project will be developed in two stages, first will be the creation of a plant with a capacity of 1,500 tons per day. Subsequently, three or four years later there will be an expansion of that capacity to reach 3,000 tons per day in that processing plant."

According to information provided by the company, they have already advanced in the purchase of 95% of the properties that are around the mine and the design of the processing plant is in the completion phase.

Sarria added that "... so far we have one million ounces already with the environmental permit and if we keep those 1,500 tons it would be enough mineral to feed the processing plant for 20 years."

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Nicaragua: Artisanal Mining Plant for $6.5 million

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Up to 150 tons per day of materials extracted from artisanal mines will be processed by the new plant, which is the result of an agreement between the State and the private sector.

The Mining Chamber of Nicaragua explained that the plant will operate under the "Mining for All" program, agreed between the business sector and the Nicaraguan government, in order to cater exclusively to artisanal workers.

Reactivation of Gold Mine in Panama

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Greenfield Resources has initiated efforts to request the reopening of the Remance mine, in which it plans to invest $110 million.

16 years since the closure of the mine, caused by the collapse of the gold price in the international market, the Panamanian company Greenfield Resources Inc.

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