Guatemala: End of Cycle for Marlin Mine

The mining company is progressively reducing gold extractions and will achieve total closure in 2017, while efforts begin to recover the area.

Wednesday, March 18, 2015

During 2013 202.200 ounces of gold were extracted, while in 2014 a decrease was reported of at least 185,000 ounces. It is expected that production this year will be equal to or lower to those last year and 2016 is expected to be the last year that extractions will be made, projecting approximately 150,000 ounces.

The total closure of the mine will take place during 2017, this period will be used for "... The total recovery of the area of ​​exploitation. " Mario Marroquin, executive director of Montana Exploradora, told Elperiodico.com.gt that "... Montana invests about $5 million a year in recovery works on 2.5 kilometers which makes up the project ... The company will be investing about $19 million, including the filling in of the Tajo Marlin, reforestation and full recovery. "

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Guatemala: Mining Royalties by Type of Material

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Royalties on mineral holdings in Guatemala will be imposed on three levels related to the base value of the extracted material.

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