Gold mines in Nicaragua sold for $53 million.

B2Gold Corp. made the acquisition from Central Sun Mining, owner of the gold mines in Nicaragua, for $53.7 million.

Monday, February 2, 2009

Central Sun Mining was the owner of the Limon and the Orosi mines, and had an option to acquire 100% of the Mestiza gold mine, also located in Nicaragua.

For the purchasing company, B2Gold Corp., from Canada, operation of the mine will allow it to add Nicaraguan gold production to its assets.

According to the Bloomberg report, Linear Gold Corp., also from Canada, had tried to acquire Central Sun.

More on this topic

B2Gold Bets on Gold in Nicaragua

March 2012

The Canadian mining company will invest $100 million in the country in 2012 to expand its two gold mines.

B2Gold is the largest mining operation in Nicaragua, and owns La Libertad mine and 95% of the Limon mine, respectively producing about 90,000 and 40,000 ounces of gold annually. Together, the two mines are expected to generate $140 million in cash this year, 40% more than in 2011.

Nicaragua: Orosi Gold Mine 95% Ready

November 2009

Its owner, Canadian company B2Gold, estimates 2010 production in 120.000-130.000 gold ounces for its two mines in the country.

In a press release, B2Gold announced that mining project Orosi is 95% ready, could begin operations in November, and has had a construction cost of $62 million.

Canadians Buy Nicaraguan Copper and Gold Mine

May 2009

Calibre Mining Corp. executed an option to purchase 100% of a copper and gold mine from Yamana Gold Inc. in Nicaragua.

Calibre announced the purchase of 70,976 hectares located in the North Atlantic Autonomous Region of Nicaragua, an area that covers the historic Mining Triangle area, covering the municipalities of Siuna, Bonanza and Rosita.

Work on gold mine in Nicaragua halted after financing fails

October 2008

Central Sun Mining has stopped work on its Orosi gold mine in Nicaragua after the fail of $22 million in financing.

Central Sun, already operating the Limon gold mine in Nicaragua, had earlier entered into a non-binding term sheet with the bank for $22.5 million to complete the Orosi project, on which it has spent $31 million to date and which was expected to be competed next spring.

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