Gold in Nicaragua: A Business with Its Own Brightness

The country is going through an economic crisis that has hit most sectors, however, gold seems to be on the sidelines of the bad times, as in the first nine months of the year exports totaled $397 million, 26% more than in the same period in 2019.

Tuesday, December 17, 2019

Between January and September 2018 and the same period in 2019, foreign sales of gold in the country increased by $82 million, going from $315 million to $397 million, according to figures from the Center for Export Procedures (Cetrex).

According to Cetrex data, based on traded value, gold exports are second in importance, since beef sales exceed them.

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

Aiser Sarria, general manager of Condor Gold, a company that has invested in the country, told that they have disbursed $60 million in an exploration project and when they are in the exploitation stage they expect to sell the ounce of "... gold at a price of $1,250 in the international markets."

Sarria added that "... The production that we have projected annually is between 75 thousand and 100 thousand ounces annually, we are talking with current prices of between $110 million and $150 million of income from exports, in addition to what is currently generated and the historic that we may have, therefore that would practically announce a 30% increase in the production and export of gold from Nicaragua."

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More on this topic

Gold: $50 Million Investment in Industrial Plant

December 2020

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.

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.

Nicaragua: $100 Million Invested in Gold Mines

July 2019

Canada's Calibre Mining bought from B2Gold Nicaragua, the El Limón and La Libertad gold mines, as well as the Pavon project and other concessions, in a transaction that totaled $100 million.

The El Limón and La Libertad mines have produced more than 1.4 million ounces of gold since 2010, and their combined production of gold in 2019 is projected to be between 150,000 and 160,000 ounces, the company said in a statement.

Gold: Exports increase 11%

October 2018

The value of gold exported from Central America in the first three months of the year reached $132 million, 11% more than the value reported for the same period in 2017.

Figures from the information system Mercado de Oro en Bruto, Semilabrado o en Polvo en Centroamérica, from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption=Click to interact with graphic"]

Guatemalan Exports Up 4%

August 2014

In the first half of the year, foreign sales amounted to $5.148 billion, with precious stones and metals recording the largest increase compared to the same period in 2013.

From a statement issued by the Guatemalan Exporters Association (Agexport):

Exports of Guatemalan products compared to June 2013 increased by 4.1% in the first six months of 2014, accumulating a total of $5.481 billion as reported by the Bank of Guatemala, which represents $2.268 billion more than sold internationally last year.

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