Gold Production Up 10% in Nicaragua

Nicaraguan mining companies forecast more growth for 2014 in line with the investments made by the sector.

Thursday, December 19, 2013

According to statistics from the Center for Exports (CETREX) up to November this year sales of raw gold rose by 10.4% going from 12,001 kg in 2012 to 13,251 in 2013. An increase in value of 2.9 % with revenues of $395.1 million was recorded, while in the same period of 2012 it was $389.9 million .

The miner B2Gold is closing the year with production goals above the expectations that were set , said Paul Venturo , general manager of the company. In Mina El Limón, they expect to conclude in 2013 with a production of around 58,000 ounces of gold and in La Libertad with about 137 thousand ounces.

"...In 2014 we expect an increase of almost 5% compared to what we've done this year," said Venturo. In 2014, B2Gold aims to produce 205,000 ounces, representing 70% of national production.

More on this topic

Nicaragua: Mining Companies Increase Investment

January 2015

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.

Outlook for Gold in Nicaragua

May 2013

Falling gold prices in the international market are worrying the mining sector, but are not a reason to stop investing in the country.

In an interview in by Lucia Navas with Pablo Venturo, B2Gold's country manager, the official explains how the company's operations are in Nicaragua and their expectations for the future.

Nicaraguan Gold Amid Falling Prices

April 2013

While the outlook is expected to improve at the international level, the mining industry in Nicaragua has announced that it is prepared to withstand the collapse of gold prices.

According to Pablo Venturo, B2Gold mining manager, the investments of about $400 million which have been implemented over the past four years has allowed them to be ready today for the collapse of gold prices in the international market.

La Libertad Gold Mine Reopens in Nicaragua

May 2010

Canadian corporation B2Gold invested $54 million to reopen the gold mine located in the province of Chontales.

B2Gold plans to extract 90.000 gold ounces a year, generating exports for approximately $85 million.

Emilio Rappaccioli, Energy Minister, commented that the new mine will double the country’s mining production, making gold the second or third most important export product.

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