Gold: Outlook for Business in Nicaragua

The mining companies' association estimates that in 2021 gold exports will be 13% higher than the value exported during 2020, explained in part by an increase in the volume extracted and the rise in the international price.

Friday, March 19, 2021

Gold exports in Nicaragua have been on the rise in recent years, mainly explained by increased activity in the sector, added to the upward trend that the price has followed in the international market.

"... Caminic's president, Sergio Murillo, said in a press teleconference that raw gold has consolidated as Nicaragua's main export product, above beef and coffee. He explained that the price of gold in the international market increased by 25.5% in 2020 compared to a year earlier, and that in volume they grew by 6.1%, going from 11,447.1 kilograms exported in 2019 to 12,150.3 kilograms in 2020."

Explains Eleconomista.net that "... Nicaragua has a total area of 71,000 square kilometers available for mining concessions, slightly more than the territory of Ireland, according to data from the state-owned Investment Promotion Agency (ProNicaragua). Nicaragua currently has some 10,000 square kilometers under concession and another 1,500 kilometers are in process."

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More on this topic

Mining: Engine of Growth in Nicaragua

October 2017

Mining activities have grown at an annual average of 9% in the last ten years, mainly due to growing foreign investment, an increase in production and favorable international prices.

A report presented by the Nicaraguan Mining Chamber states that between 2006 and 2016, foreign direct investment totaled $793 million, having an annual average of $79 million. 

Honduras: Mining Exports Up 23%

June 2017

In the first quarter of the year, exports from the mining sector totaled $39 million, an increase of 23% compared to the same period in 2016.

From a report by the Central Bank of Honduras:

The products classified in the mining activity accounted for an exported value of US $39.0 million, US $7.4 million (23.3%) more than in relation to March 2016; brought about by an improvement in the price of minerals in the international market, which has encouraged the largest shipments. 

Nicaragua: Precious Metal Exports Fall

May 2015

Low gold prices and weaker external demand account for 14% of the annual fall in the export of metal products for March.

In the first quarter of 20,700 ounces of gold were exported, down from the 73,800 ounces sold in the same period in the previous year. The main reason behind this decrease is the fall is the international price of gold, which has remained low over the past year and part of this year.

Mining Exploration Concession in Nicaragua

May 2009

Condor Resources Plc Company won the concession for mining exploration in Santa Barbara, an area of 16 square km.

The international company has concessions in Nicaragua and El Salvador. The new Santa Barbara concession is adjacent to Cacao concession which is 16 square kilometers and also held by Condor.

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